'VZ Edge,' New Plan From Verizon Wireless, Will Reportedly Offer More Frequent Upgrades: Droid Life

That was fast.

Less than a week after T-Mobile announced its new plan allowing customers to upgrade their devices up to twice a year -- and just as AT&T announced its plan for more frequent upgrades -- it appears that Verizon is planning to follow suit.

Droid Life is reporting that in August Verizon will introduce VZ Edge, an option that will allow customers who pay for their devices in monthly installments to upgrade their phones after they've paid off at least 50 percent of the price.

Earlier this year, Verizon introduced the Device Payment Program, which allows customers to pay for new tablets and smartphones in 12 monthly installments. VZ Edge could apply to customers who take advantage of that option, or Verizon could introduce a new monthly payment plan.

News of the plan comes from a slide Droid Life obtained (click to see the slide). Verizon did not respond to a request for comment from The Huffington Post and there aren't many details.

A common complaint from wireless customers is that they have to wait a long time to be eligible for a discounted upgrade, and just a few months ago, Verizon and AT&T extended their eligibility period for device upgrades from 20 to 24 months.

Now the biggest wireless carriers are trying to remain attractive to existing and new customers who want the latest phones by offering alternative options.

Last week, T-Mobile announced Jump, a plan that allows customers who pay a monthly fee of $10 to upgrade their phones at least twice per year. The plan also comes with insurance that covers loss, theft and malfunction.

And AT&T on Tuesday introduced Next, a plan that allows customers who pay for a tablet or smartphone in monthly installments to upgrade after a year.



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