Earlier on Wednesday, we told you that Verizon had made a change to its smartphone purchasing plans that would allow a customer, under certain circumstances, to pay for a device over a 12 month period. The first installment would be due at the time of purchase and the device being bought must have a retail price of $349.99 or higher. In addition, customers would be allowed to have two installment purchases going on at one time. As soon as on is paid off, another purchase could replace it.
T-Mobile recently made a change to the structure of the data plans on its network by eliminating two-year contracts and allowing customers to leave the carrier at anytime. But even though they leave, their device may not be able to. Eliminating subsidies, T-Mobile now charges a down payment for a device with the balance paid off in monthly installments. Until the device is paid off completely, it remains locked to the T-Mobile network. As an example of how this works, for the 16GB Apple iPhone 5, T-Mobile customers put down $99.99 and pay off the balance in 24 monthly installments of $20 each.
source: Change.org via BGR
The petition demanding that Verizon stop subsidized pricing and put an end to two-year contracts has 75,000 signatures