Verizon seems to have been forced into announcing its “Verizon Edge” early upgrade program after T-Mobile announced its JUMP last week and AT&T announced its “Next” early upgrade program earlier in the week.
So here’s how Verizon’s Edge program will work:
- The full retail price of the device will be divided into 24 monthly installments, with the first installment at the point of sale.
- Customers will be able to upgrade to a new device after 6 months.
- However, they need to pay off 50% of full retail price of the device.
- They also need to trade-in the device.
- The VZ Edge program is available only to customers who have signed up for the Share Everything plan. This means that customers who have grandfathered in on Verizon’s unlimited data plan won’t be eligible.
Verizon’s Edge program will be available on August 25. Verizon has also a table that compares its Edge plan with T-Mobile (Competitor A) and AT&T (Competitor B).
Laptopmag explains what signing up for the Edge plan will mean for Verizon customers:
Overall, Verizon Edge customers will pay more per month for the privilege of being able to upgrade to a device sooner. Instead of spending $199 up front for a flagship device, you’ll pay the full $649 price for the handset (a difference of $450) spread out over 24 months. You don’t save anything on the service plans. As Dixon says, Edge is really just about “more flexibility for the customer.”
Let us know what you think. Do you plan to signup for it?