If you are an existing customer of Verizon Wireless and is due for an upgrade on your two-year agreement, you might want to know: any two-year agreement that is signed beginning today will come with an updated early termination clause.
The base early termination fee (ETF) amounting to $350 will be unchanged. However, that is not the worse part. The bad news is that unless you are already 8 months into your contract, the ETF will not start decreasing.
In advance of the (rumored) arrival of the Apple iPhone this fall, Sprint has joined AT&T and Verizon with an increased early termination fee for “advanced devices”. We haven’t yet been able to locate a specific list of these devices, but they likely include all (or most) smartphones, tablets and data devices, which means most equipment will be subject to the new policy.
Once again taking advantage of its very low rate of customers leaving (churn), Verizon has announced some changes to try and further separate itself from the pack. Details aren't available yet, but the CEO of Verizon announced these changes, for implementation later in 2006: