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The Wall Street Journal said it best, "Hello iPhone, Goodbye Upgrade." While many people are extremely excited about being able to get the Verizon iPhone on the Verizon network, it wasn't all good news. What goes up must come down. For every action there is an equal and opposite reaction. And so on...
Verizon announced that it is ending its "New Every Two" discount program on January 16th. In the past, subscribers received Verizon upgrades up to $100 towards a new phone every two years. Now, just as the Verizon iPhone is about to arrive, they are ending the deal. However, current subscribers can still get in on the Verizon upgrades.
Current subscribers can still take advantage of "New Every Two." That means that a Verizon subscriber that has had the same phone for two years will be eligible to upgrade to a 16 GB iPhone for $99. But it seems that will be the last time they will have such an option.
Why would Verizon want to get rid of such a popular program? Money. iPhones reportedly cost the carriers $400, so if Verizon is expected to sell 1 million units in the first month, they stand to make a great deal more money than if they offered every customer a $100 discount. "The longer you can get customers to go between upgrading their phones, the stronger the profitability for the carrier," says Michael Hodel, an equity analyst covering Verizon for Morningstar, The Wall Street Journal reports.
Meeting with a lawyer can help you understand your options and how to best protect your rights. Visit our attorney directory to find a lawyer near you who can help.