Verizon is set to counter T-Mobile‘s new JUMP! initiative in August, reports Droid Life. Called the ‘VZ Edge’ program, it figures to allow subscribers an option to upgrade their handsets on a more regular basis.
As it appears from this leak, Verizon customers will be able to upgrade their device just so long as 50% of the cost is already paid. The aim is to let users stay on the “edge” of technology… get it?
It looks like you’ll end up with a monthly fee and paying off your phone over the course of time, much like T-Mobile does. What isn’t immediately clear, however, is whether that 50% paid refers to the full cost of the phone. We’re gonna go ahead and assume that’s the case though.
Imagine a scenario where you pick up a $500 phone with $100 down. Assuming you spread the remaining $400 over 12 months you’d pay $33.33 per month. After five months of paying on the phone you’re across the threshold and ready to upgrade. That is, provided, we’re on the money with our guess.
The VD Edge plan is expected to go live on August 25 so we might assume more details will trickle out in the next couple of weeks. Indeed, there are some unanswered questions to clear up — what happens with grandfathered plans…how much is monthly fee? We get the sense we’ll find out soon enough.