SmartMoney: Hello iPhone, Goodbye Upgrades
by Kelli B. Grant & Jonnelle Marte January 13, 2011
You'd have to be living in a cave to have missed the big Tuesday news that the iPhone is finally coming to Verizon. But what the company didn't announce yesterday may turn out to be more important to subscribers: A change in the company's upgrade policies that will make phones more expensive for current and future Verizon customers.
Verizon officials have confirmed what SmartMoney was told by Verizon sales reps at a number of stores around the country: The company is ending its popular "New Every Two" program, which offers Verizon subscribers a credit of $30 to $100 toward a new phone every two years. As of Jan. 16, the company will stop offering the credit to new customers and won't re-enroll current customers in the program after their next New Every Two upgrade. The cell carrier is also putting the brakes on its permissive early upgrade policy, store representatives confirmed. ( See video explaining the policy change. )
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