Droid Life received a leaked document from Verizon, showing the largest CDMA carrier is launching a new plan called ‘VZ Edge’ which allows customers to upgrade early on their plans, at reduced new customer pricing.
Typically, on a standard plan customers have to wait up to 24 months to upgrade, resulting in frustrated customers who seek other carriers. The plan is due for the official unveiling August 25, allowing customers to upgrade after paying 50 percent off their current device. Detailed information is extremely vague at this point.
The early upgrade plan, ‘VZ Edge’ sounds remarkably similar to T-Mobile’s ‘Jump’ plan which was announced just a week ago. T-Mobile’s plan allows customers to nix the two year agreement, pay down a deposit and a small monthly insurance fee until the phone is paid in full.
Prior to the leaked document hitting the social media waves, Verizon had already made policy changes for customers across the board that created anger and frustration. There was the previous announcement on the New Every 2 program that was eliminated by Verizon nearly two years ago.
The special permitted a $100 credit towards a new smartphone purchase. Many customers held onto the credit, especially after the elimination to take their time to hold out for other devices, like the iPhone 5S. Many customers received a rude awakening the morning of April 16 as the credit was eliminated for all accounts. Many customers complained of not getting prior notices.
A further hit occurred from Verizon to their dedicated consumer base when they eliminated the ability to move upgrades on the account. As imagined, many of those same loyal customers defected to Sprint, T-Mobile and AT&T after the bad aftertaste Verizon left behind.
This move is a move in the right direction for the second largest mobile carrier. T-Mobile introduced Jump earlier this month. The plan permits a customers to upgrade their phone twice a year – four times faster than traditional plans. The customer can trade in their previous smartphone (working condition only) and purchase a new phone at the same price entitled to new customers.
In addition to the ‘Jump’ unveiling, T-Mobile expanded their 4G LTE coverage into 116 cities, touching more than 157 million consumer locations. As you can imagine, Verizon and AT&T barely paid attention to the fourth carrier in the chain. What prompted the change was when Sprint, the nation’s third largest carrier announced they are not only expanding their 4G network, but they are guaranteeing unlimited data “for life” for all new and current customers.
Finally, the big boys listened. Verizon is the first to react to the changes of the two smaller carriers by pitching a similar early upgrade offer to customers. The ‘VZ Edge’ is sure to make waves for customers and in the market, especially since Verizon holds the lionshare of data connection and coverage in the CDMA market.
All eyes will slowly be moving over to GSM’s largest network carrier, AT&T. AT&T was the last carrier to open the path of a ‘Mobile Share Plan’ for all smartphone and hot spot devices to share in a data plan. Now, the team may be already at the drawing board configuring an early upgrade plan to outpace its largest competitor, Verizon.
The leaked document by Verizon will be seen across social media channels for weeks to come until its eventual release early this fall. The possibility of early upgrades are already a delightful tone to the millions of Verizon consumers.