Verizon Wireless, the country’s largest cellphone carrier, on Friday said that it is extending the time it takes to earn a subsidized phone upgrade from 20 months on contract to 24 months.
The move will save Verizon money, since it subsidizes each new smartphone by as much as $400 to get the price down to $199 or lower. With less frequent phone upgrades, it will pay out less in subsidies.
In a statement on its website, Verizon said the move aligns its policy with the typical length of a phone contract, and with the way people buy new phones. The change takes effect with contracts expiring in January.
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