Sprint to launch new price promotion; offers to halve the bills of customers who switch from AT&T and Verizon

Sprint logo

Sprint may launch a new price promotion today, which will halve the bills of customers who switch from AT&T and Verizon, according to Re/code.

Re/code reports:

Under the terms of the deal, which kicks off Friday, a customer can bring a current AT&T or Verizon bill to a Sprint store and store representatives will set up a new plan that is half of the service portion of that bill (the cost of calls, texting and data). In addition to that service cost, though, customers have to buy an unsubsidized device, either up front, through installments or using one of Sprint’s new leasing plans.

Customers will have to submit copy of previous wireless carrier bill to avail of the promotion. In addition to the discount on the monthly subscription, Sprint will also pay $350 in early termination fees or remaining device-installment payments.

New Sprint CEO Marcelo Claure tweeted about the new price promotion late Monday night:

Interestingly, Sprint is not offering the promotion to T-Mobile customers, most probably because T-Mobile already has low rates. Sprint officially notes that AT&T and Verizon control about 70 percent of the market.