Verizon is rolling out a new payment plan for the iPhone 6S and 6S Plus, one that brings it into line with what other wireless carriers are offering.
The company will now let you trade in your old iPhone for a new one every year. Previously, customers had to pay off their entire phone in full before allowing them to upgrade.
By letting customers upgrade yearly, Verizon has caught up to its rivals. It’s also facing a crushing wave of price competition and general industry chaos as T-Mobile and Sprint released dueling promotions this week.
T-Mobile is now selling the new iPhone for $5 a month, so long as you trade in your iPhone 6 or 6 Plus. Sprint is offering the new i Phone for as little as $1 a month in exchange for your old iPhone 6.
These aggressive pricing plans work because the carriers expect to make back some money selling your old phone on the used handset market. But they’re also another sign of the tremendous changes that are continuing to roil the industry. On Thursday, Sprint indicated its willingness to merge with a cable company, though it said it’s had no discussions with any particular firms.
