updated 08:02 am EST, Mon January 20, 2014
Change in promotional terms an attempt to retain subscribers
Verizon has updated its early upgrade program to allow subscribers to upgrade earlier than before, as the carrier attempts to compete with similar offers from other mobile phone networks. Verizon Edge will now permit customers to upgrade to a new device just 30 days after starting a contract or upgrading, rather than the six-month wait it originally launched with.
Just as with the original plan, customers will be charged the full retail price of the smartphone over a 24 month period. Despite the shorter waiting period, customers looking to take up the early upgrade will still need to pay off half the cost of the smartphone, as well as trading in their current device. A spokesperson for Verizon advised to CNET that, while it is a promotion, the carrier has "not set an end date."
The change in offer comes just weeks after T-Mobile announced it would pay up to $350 towards the early termination fee for subscribers of other carriers switching to them, with AT&T offering a smaller $200 credit for similar transfers. Though Verizon's change in the Edge promotion is not a directly-competing offer when compared to T-Mobile and AT&T's ETF propositions, it could allow Verizon to retain a number of customers looking to move simply by offering them a new mobile device.