Sprint appears to be the latest carrier to follow T-Mobile’s footsteps in launching an early upgrade plan. The provider will reportedly debut a new option known as One Up on Sept. 20, just in time for Apple’s iPhone 5s and iPhone 5c launches.
The plan would allow customers to pay for a new smartphone or tablet in monthly installments rather than paying a subsidized price up front on a two-year contract, according to leaked screenshots discovered by CNET. Buyers would then be able to trade in their devices every year for a new smartphone or tablet instead of waiting for a two-year duration to expire.
MORE: Top 10 Smartphones
Sprint’s program is most similar to T-Mobile’s Jump plan. The carriers essentially break up the full retail cost of the phone into monthly installments to be paid off over the course of two years. The user isn’t tied to a two-year contract. Sprint’s plan is said to start at $27 for the device and $65 for unlimited talk, text and data. (CNET reports that customers who sign up for One Up will get a $15 discount on unlimited data (normally $80 per month). T-Mobile’s comparable Jump plan costs $21 for the device and $70 for the service.
AT&T and Verizon add extra costs to their monthly service plans that will end up costing the user significantly more than a two-year contract would.
Unlike T-Mobile, it doesn’t appear as though Sprint will charge a monthly fee for the the annual upgrade plan, while T-Mobile charges $10 per month (which also includes insurance). However, if you upgrade your Sprint device before one year is up, however, you’ll have to pay the balance of the full cost of the device the following month.
One Up is rumored to launch on the same day as Apple’s new iPhone 5s and iPhone 5c smartphones, hoping to appeal to users that want a quick upgrade without a contract. Stay tuned for a full breakdown of all the carrier upgrade plans once Sprint’s One Up goes live.