Sprint Plans to Terminate Two-Year Contracts, Go Exclusively to Leases
Did you like the previous news from Sprint that it will have a nice iPhone leasing program that allows you to update every year ? I hope so. Because Sprint also announced that by the end of the year leasing would be the only way to get a phone on Sprint without paying in full.
Sprint plans to ditch its two-year contracts altogether, according to the Wall Street Journal. Earlier, when you signed a new contract, you got a phone at a much lower price (sometimes free). After two years, you will become the owner of this phone. The carrier has also recently added the ability to pay for phones with a monthly funding plan. By the end of the year, both of these options will have disappeared completely.
The rental program remains. With this plan, you will be charged an additional fee (based on the cost of the device) on top of your data plan. Then you rent this phone out for two years. After these two years, you can either pay for the purchase of the phone or exchange it for another phone. If you leave Sprint, you will need to return your phone.
Once that transition takes place – which will be completed by the end of the year, though Sprint is not specifying when it will begin – the lease will be the only option Sprint customers should get a new phone other than buying the phone at the full price. price. It’s unclear how much it will cost to buy the phone at the end of the lease, but that leaves users who want to own their devices with fewer options than it used to be.
It’s also unclear if the company will offer any form of early update beyond the existing plan for iPhone users. Currently, only iPhone users will be able to update the version annually, no matter which data plan they choose. Hopefully we will hear more by the end of the year.
Sprint to drop two-year contracts | Wall street journal