Sprint will soon start offering a 12-month lease option through its iPhone for Life program, the carrier said in a press release on Friday. The new option will allow qualified customers to get a new iPhone every year, without having to make a significant lump sum payment.
Previously, iPhone for Life subscribers could get an iPhone 6 for as little as $20 per month, with the option to trade it in for a new model after two years. With this new 12-month offering, customers will pay $30 per month for an iPhone 6 (16GB) or $35 for an iPhone 6 Plus.
Sprint says its iPhone for Life plan is the “most economical way to get a new iPhone 6 or iPhone 6 Plus,” noting that it bests Verizon Wireless’ upgrade policy, which was just changed to make customers pay off 75% of the retail price on their current handset to get a new iPhone.
More iPhone for Life equipment pricing:
At the end of the lease agreement, Sprint customers in good standing have a few options. They can turn in their leased device and lease another phone with zero down, they can purchase the device outright, they can continue leasing on a month-to-month basis, or terminate service.
This new promotion underscores Sprint’s renewed efforts to woo new customers, in what has seemingly become a race-to-the-bottom with T-Mobile and other major US carriers. In August, it announced a new $60/month unlimited plan, as well as new Family Share Pack data plans.
The new 12-month lease iPhone for Life plan becomes available November 14.