Today, Verizon announced payment plans for off contract phones, very similar to what T-Mobile now offers with their Uncarrier approach. You can buy a phone for full price, and the carrier will offer you a payment plan to pay it off over a period of time instead of paying $600 up front. However, T-Mobile uses this instead of contracts. Their fees don’t include the price of a phone subsidy, and all their phones are offered on a payment plan to mitigate getting rid of contracts. Verizon is a little different.
Last week, Verizon CEO Lowell McAdam said he would be open to getting rid of contracts, if it was what the customer wanted. However, this is not a push in that direction. This option is given to those who want to buy a new phone while they are still in a contract, or even outside of one. It’s basically an easier way to buy a phone off contract, instead of being a push to end contracts.
The Verizon Wireless Device Payment Plan will be available for some phones on April 21. This may be good for unlimited data users, because it might be a way not to upgrade but still get new devices without having to pay a big amount of money at once. However, that’s unconfirmed. For normal customers, it’s probably irrelevant. But what do you guys think?