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Verizon Plans Upgrade Fee

$30 to get a new phone

11 Updates
Verizon Plans Upgrade Fee
 
 

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Verizon Plans Upgrade Fee

Once you reach the glorious moment that is your Verizon smartphone upgrade window, be prepared to loosen your wallet a bit more.

The company has announced that it will begin charging users $30 when they buy a new phone. And that's only after they've had their current phone for an extended period of time and are in the upgrade eligible window.

When you go into a Verizon (or any other carrier's) store, and you pay $200 for a smartphone, the carrier actually loses money on that phone, sometimes to the tune of hundreds of dollars per phone.

The good news, for the carrier, of course is that the margins on mobile service are much higher. Like, ridiculously higher. So, by making you sign a two-year service agreement, the carrier is guaranteed to recoup the money that it lost on the actual phone during the duration of your service.

That's why carriers are justified in charging outrageous fees if you want to end your contract early, and also why you aren't allowed to upgrade your phone usually until at least your current service agreement is about to expire.

Okay, so with all that said, the problem for carriers is that right now, smartphone sales are exploding. It takes time to make up that lost money, and keeping up with the growth in sales right now is tough.

That's why upgrade fees have been introduced. Of course, increased costs or pressure on companies never means they have to make sacrifices. It means you do, because they pass that onto the consumer.

Even with Verizon's new fee, it still isn't the most consumer-unfriendly carrier when it comes to upgrading. AT&T was already charging an $18 fee to upgrade when no one else was, and recently it shot that up to $36.

 

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Update: 10

Verizon Now Allows Customers to Make Unlimited Calls for $60

Source: IBTimes UK

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Source: IBTimes UK   Full article at: IBTimes UK 4 days ago, 4:25am CDT
 

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Update: 9

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Source: Techmeme

Jon Brodkin / Ars Technica: How Verizon lets its copper network decay to force phone customers onto fiber  —  The shift from copper landlines to fiber-based voice networks is continuing apace, and no one wants it to happen faster than Verizon.  —  Internet users nationwide are clamoring for fiber ...
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Update: 7

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Update: 6

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Update: 5

How Verizon lets its copper network decay to force phone customers onto fiber

Source: Ars Technica

Aurich Lawson The shift from copper landlines to fiber-based voice networks is continuing apace, and no one wants it to happen faster than Verizon. Internet users nationwide are clamoring for fiber, as well, hoping it can free them from slower DSL service or the dreaded cable companies. But not everyone wants fiber, because, when it comes to voice calls, the newer technology doesn’t have all the benefits of the old copper phone network. In particular, fiber ...
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Update: 4

Warren Buffett Takes New Stake In Charter Communications (CHTR, KO, BRKA, BRKB, VZ, STRZA, LMCA, COP, WFC, DTV)

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Warren Buffett's Berkshire Hathaway has taken a new 2.3 million share stake in Charter Communications worth more than $365 million.  In after hours trade on Thursday, Charter shares were up 1.8%.  Buffett's latest 13F filing with the SEC also showed that the investing legend increased his stake in Verizon substantially, adding about 4 million shares to bring his stake above 15 million shares worth about $733 million.  A 13F requires hedge funds to disclose their long positions w ...
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Update: 2

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Source: MacNN   Full article at: MacNN Aug 13 2014, 8:36pm CDT
 

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<a href="/latest_stories/all/all/6" rel="author">Mark Raby</a>
Based in New York City, Mark follows the consumer electronics industry like a hawk. A published book author, he has a particular affinity for 3D technology and video games, and as such will surely be in the market for a new pair of glasses soon. Mark can be contacted directly at mark@i4u.com.

 

 

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