Sprint reportedly to join monthly phone hardware payments craze on iPhone launch day
Sprint is readying its own program that allows customers to roll in the cost of phone hardware in their monthly bill, according to CNET. Sprint’s program is reportedly called One Up, and it works in a similar fashion to the recently launched AT&T Next, T-Mobile Jump, and Verizon Edge initiatives.
All of the carrier programs principally work the same, with a few nuanced differences. Sprint’s One Up lets customers pick up a phone with no money down and pay for the device in 24 monthly installments. A phone that costs $649.99, for instance, will cost $27 a month (with the difference tacked on to the 24th payment). If a customer leaves the service early, that person is on the hook for the balance of the device cost, due the following month.
Unlike with a typical U.S. carrier contract, Sprint’s new program (like those from the other U.S. carriers) will allow customers to upgrade to a new device every year. The (subsidized) cost of the phone will be divided up into 24 installments and added to the customer’s monthly bill. A customer can trade-in that current hardware towards the new phone that they would like to upgrade to.
Notably, the new Sprint One Up program is claimed to launch on September 20th, which just so happens to be the launch date of the new iPhone 5s and iPhone 5c.