In line with a leaked document from earlier this week, Verizon today announced the upcoming launch of its new "Edge" handset upgrade program. Similar to AT&T's "Next" program introduced earlier this week and T-Mobile's "Jump" offering, Edge is designed to allow users to upgrade their handsets more frequently.
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Here’s how it works: Choose the phone you want and sign up for a month-to-month service plan, it’s as easy as that. The full retail price of the phone will be divided over 24 months and you’ll pay the first month at the time of purchase. If you want to upgrade after 6 months, just pay off 50% of the full retail price of the phone and you can choose a new phone and start all over again.
There are no long-term service contracts, finance charges or upgrade fees with Verizon Edge. Every six months, as long as 50 percent of the cost of the phone has been paid, you can upgrade to the newest basic or smartphone available.
According to AllThingsD, customers must also trade-in their existing handsets in order to upgrade under the program. Verizon's Edge program launches August 25 for customers on the carrier's Share Everything plans.
Top Rated Comments
Wow, they've hidden their scam in something thats so convoluted and confusing that the average person just wont read between the lines. Absolutely digusting, one of their slimiest tactics I've seen yet from the two big "orifices" in telecoms.
Tmobiles is much more straightforward and honest. Realistically, you're just better off BUYING your phone and then RESELLING when you want to upgrade.
I hate the carriers
I have a Share Everything plan with Verizon, and I'm thinking about leaving them with this announcement, even though it doesn't affect me. I hate the idea of supporting a company that would do something this slimy.
I wish Apple would just sell a completely unlocked phone that worked on all of the major US carriers, so that people like me could just pick and choose which carrier they want, and make them stumble over themselves trying to offer the best deal.
Even if you buy the phone at full retail you still are being ripped off because your bill for each month stays the same. So you buy the phone at full retail, yet are still paying for it in the bill. With that said, I will probably be one of the many people who use this program even though I know im being ripped off. I can't afford to pay full retail for phones, and the carriers know this. I think the carrier is only benefiting if the customer waits more than 12 months to trade their phone in. That way in 12 months you basically paid for the full price of the phone. On the 13th month, you are now paying more than what the phone is worth.