On Thursday, Verizon Wireless stated that it would join AT&T and T-Mobile in making installment plans for its available phones. The country's biggest cellphone carrier aimed to give satisfaction to clients who wanted to upgrade their gadgets sooner. Patrons who did not want to pay upfront costs of the phones would benefits with the new plan.
The plan was branded Edge. It would be introduced on August 25. It would permit the customers to spread the full retail cost of the phone without additional fees over 24 months. A buyer who paid off 50% of the price of the phone would be allowed to upgrade to a new gadget after six months.
"We have a lot of customers in the technology edge that want to upgrade sooner than they would under our historical, legacy, subsidy model, if you will. And we have other customers who don't want to pay upfront for the large cost of the phone," Fran Shammo, Verizon Communications Inc.'s chief financial officer, told experts on a conference call on Thursday.
The company reported that its net income was US$2.25 billion or 78 cents for every share. This was compared with last year's price of every share which was 23% below today's worth. Verizon Communications' profit was US$29.79 billion.
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