U.S. wireless carriers are coming up with easier ways to upgrade your mobile phone devices to the newest available models.
Following AT&T and T-Mobile revealing an option to replace devices in as little as a six-month time frame, Verizon Wireless is offering a similar plan. Users will be able to pay for a phone in monthly installments, rather than an upfront fee with purchase. This plan is likely to boost mobile phone sales by 10 to 15 percent a year, if all goes according to plan.
Said Roger Entner, an analyst art Recon Analytics, with these new terms, “you’ll have people who go from upgrading every 24 months to 12 months, and people who used to upgrade every 12 months changing to six months.”
Doing the math, it’s not a very economical model for the consumer, but could be just the thing for consumers looking for a quick upgrade to the latest gadget. We’ll see how this plan works in the months ahead.
