Aug 17 AT 5:37 PM Nick Sarafolean 0 Comments

Sprint is killing two-year contracts and replacing them with leases

sprint-store

After both T-Mobile and Verizon ditched contracts, Sprint is joining the group and eliminating the option to get a two-year contract. The company began offering leasing options last year and it’s going to stick with them, as 51% of customers chose a lease in the last quarter. The leasing option works well and although customers are still semi-tied in (you have to pay off the remaining balance of the phone before you leave), it does mark a shift in the US wireless market.

Sprint introduced a new iPhone-based lease in addition to the news which allows a customer to pay $22/month to get a new iPhone each time it’s available. Similar options and other deals will likely become available as the company transitions fully to the leasing option. All in all, you’ll likely be able to snag some good deals if you play it right.

Via: Wall Street Journal

A nerd at heart, Nick is an average person who has a passion for all things electronic. When not spending his time writing about the latest gadgets, Nick enjoys reading, dabbling in photography, and experimenting with anything and everything coffee. Should you wish to know more about him, you can follow him on Twitter @Zricon15.

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