T-Mobile Might Ditch 2-Year Contract Requirement, Others
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March 4, 2013 9:03 PM
DENVER (CBS4) - Techies and bloggers are abuzz at the
prospect of T-Mobile getting rid of its requirement for two-year phone
contract.
No official announcement has come down from the company,
but some insiders say it's just a question of time. CBS4 Money Saver Suzanne
McCarroll wanted to know the chances of other companies doing the same thing.
Companies may look at the idea of getting rid of all
two-year contracts if that's what consumers are demanding. Right now most major
companies require a two-year contract. By signing, customers receive a sizable
discount on their phones. Yet consumers dislike the two-year commitment.
"Because if it doesn't work out, you're stuck and
you have to have a cancellation fee," one consumer said.
If a company gets rid of the required contract the phone
will go up in price. Right now a new iPhone 5 without a contract costs $649.
With a contract it's only $200. The newest Samsung Galaxy S-3 without a
contract is $600, but only $200 with a contract.
Those at CNET who follow the cellphone industry closely
say it is just a question of time until T-Mobile gets rid of its contracts and
other carriers likely follow with similar plans.
"I think that the rest of the industry will likely
be looking at this very closely, because I don't think anyone really likes the
model that's set up now," Roger Cheng with CNET.com said. "Carriers
are tired of people complaining about contracts."
Industry insiders say the higher cost of the phone will
be spread out over a multi month period. So while consumers may save money in
the end, it won't initially feel like a better deal.
T-Mobile wouldn't comment for CBS4's story, but some
insiders expect the company will offer the "no contract" plan at the
earliest this month, at the latest, this spring.
denver.cbslocal.com/2013/03/04/t-mobile-might-ditch-2-year-contract-requirem
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