Verizon is letting customers upgrade to a new iPhone every year

Following new iPhone 6s upgrade/trade-in plans announced this week by both T-Mobile (starting from $5/month) and Sprint (starting from $1/month), it’s now Verizon’s turn to put on the boxing mitts and step into the ring.

While it’s admittedly not looking to deliver a knockout blow on pricing, Verizon says its network offers the largest 4G LTE coverage in the U.S.

Re/code is specifically reporting that Verizon’s new plan will allow customers to “upgrade to a new [iPhone] every year if they have paid off half of their device’s cost and turned in their old device.”

While Verizon doesn’t appear to spell those terms out quite so clearly, it did say that “if you purchase either the iPhone 6s or iPhone 6s Plus with Verizon’s Device Payment option beginning Friday, September 25, you’ll be eligible to get a new iPhone every year.”

https://twitter.com/VerizonNews/status/647183362982027264

The company is also offering customers who are not interested in upgrading the option to pay off their phone over 24 months.

Meanwhile, it takes a dig at the new leasing programs announced by rivals T-Mobile and Sprint, warning that they can include “surprise balloon payments just 18 months into your agreement, or ask you to turn over your phone without getting anything for it.”

Finally, Verizon is offering customers up to $400 when they switch and trade in an old smartphone.

https://twitter.com/verizon/status/647175842552909825