Sprint introduced a new iPhone for Life program allowing customers to upgrade to the latest iPhone every year with a 12-month lease option.
Sprint, the third largest wireless carrier in the U.S., is building on the existing "iPhone for Life" plan, and is allowing subscribers to upgrade to a new iPhone every year. Starting November 14, the new 12-month lease option skips the 24-month upgrade cycle for new iPhones.
The original iPhone for Life program, which was launched in September, allowed customers to pay as little as $20 to lease a new iPhone 6 and use it for two years before turning it in for an upgrade or termination. The upgraded program changes that with an additional $10 a month and offers an annual upgrade for as low as $30 a month for the iPhone 6. Additional charges including taxes and regular service plans sit on top of the device's lease cost.
"Consumers have told us they want the best value and the ability to upgrade their devices every year," Marcelo Claure, CEO of Sprint, said in a press release, Friday. "Sprint delivers with its new 12-month lease offer, allowing customers to upgrade to the latest iPhone every year. The iPhone for Life Plan gives customers the lowest monthly cost in the industry for acquiring an iPhone. We are making it easy and affordable for consumers to get what they want."
How the new plan works?
Customers get an iPhone for no down payment and pay anywhere between $30 and $45 per month, depending on the selected model. For a 16GB iPhone6 model, customers will pay $30 a month, $35 for the 64GB variant and $40 for the 128GB iPhone 6. The high-end iPhone 6 Plus starts at $35 for the 16GB version, $40 for 64GB and $45 per month for the 128GB variant. At the end of 12 months, customers can either swap the handset to lease another one with zero down, purchase the leased handset or return the device in "good working condition" and terminate the service.
If the big screen iPhone isn't your choice for various reasons, Sprint has a cheaper alternative. The new iPhone for Life program includes an option to lease the iPhone 5S. For as little as $18 per month for 24 months, customers can get the 16GB version of the iPhone 5S, $21 for the 32GB model and $24 per month for the 64GB variant.
According to Sprint, the new plan saves $444.96 compared to T-Mobile's plan, $570 compared to AT&T and $667.44 over Verizon, CNET reported.
