Verizon Wireless confirmed some plans this past Friday. At the time the carrier announced they would soon be upping the upgrade cycle to 24-months. This, for those not familiar, is being upped from 20 months. This will be going into effect with contracts that expire after January 2014. Basically, if your contract is set to expire anytime in 2014, you will need to wait the full two-years before you can get a new phone.

There is however one exception to that rule. You could always choose to get a new device without the subsidy. In other words, by paying the full retail pricing. The catch with that is obvious — that means paying quite a bit more than you normally would. Well, in an update to that renewal timeframe news, Verizon Wireless has since confirmed they will be offering a device payment plan.

So far Verizon has said that “some devices will be available for purchase through the Verizon Wireless Device Payment Plan.” This plan will be available from April 21. As you can see, Verizon Wireless has yet to reveal all the specifics for the payment plan just yet. Stepping out from the official side for a moment and we look towards a previous leak, which did touch on some of the specifics.

To begin with, the payment plan will give you 12-months to pay. We are not entirely sure how many Verizon users will take them up on this offer for regular upgrades, but it should help for those times when you break or lose your phone — and don’t have any insurance to help get a replacement. At least this way you can pay for the device over 12 months as opposed to all up front.

[via Verizon Wireless]

  • Gilbert Gonzalez

    So let me get this straight, I open a line with Verzion, pay up the ass month to month for my service at the same time pay about 200-300 for a new phone, I can’t “upgrade” my phone for 2 full years, but if I want to pay FULL price for the phone, I can definitely do that. So ultimately, I’m paying for both old and new phones thru my phone bill in addition to the service.

    No thank you Verizon, your network is NOT THAT GOOD!

  • Maybe the missed the point of the uncarrier plans. They are cheaper plans, which include only the cost of service. They do not include some hidden equipment subsidy cost based on the assumption of a contract. I like Verizon’s network better, but if T-mobile was closer in capabilities to Verizon I would switch to the new uncarrier plans right away. With them, I know exactly how much each thing costs and is worth, instead of it being about some odd money extraction plan concocted by MBAs.

  • Alan

    I think theres more Verizon gouging coming…
    We’re already paying for the difference between $199 and the full price ($649 etc) in our monthly bills already.
    lets assume that the $449 difference is in the 20months we already pay (and ignore the discount they get for bulk buying these phones)..thats $22 Per month already in their cost model (recovered over 20 months).
    To recover for same phone but over 12 months would be $37.50… so for me to pay for the handset in 12 months instead of 20, should only put $15 on my bill per month.
    All numbers are estimates obviously, but you get my point… our bills should not go up $58 per month like some articles are suggesting…unless its gouging time again.

  • What Verizon customers are really waiting for is for the share
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    surcharge fee Verizon customers and their families can be equally
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    red rocket take over.

    Some pain and discomfort might be experienced when the red rocket
    arrives every month in the mail, But for an additional $9.99 a month
    plus taxes and $3.99 per month for the new greed fees Verizon will
    provide you with the soothing knowledge that you are bring raped monthly
    for the privilege of using America’s largest 4G network…