Verizon jumped on the early device upgrade program bandwagon Thursday, as they have unveiled their own smartphone upgrade program, dubbed “Edge.” The program offers subscribers the ability to upgrade to a new handset after six months.
Verizon Edge is pitched as a “flexible equipment payment plan,” allowing customers to spread the retail price of a new phone over a 24-month period. If users pay 50 percent of the retail cost of their smartphone, they can upgrade to a new phone in as soon as six months.
The new program is available for any smartphone offered by Verizon, and customers can choose the phone they want along with a month-to-month service plan.
The full retail price of the handset will be divided over a 24-month period, with the customer paying the first month of that plan at the time of purchase.
If a customer upgrades to a new phone after six months, the 24-month payment period starts over. The plan, which launches for “Share Everything” customers on August 25th, does not include a service contract, finance charges, or upgrade fees.
This announcement leaves Sprint as the only carrier among the big four not to have announced an early device upgrade program.