AT&T is set to be the next United States wireless carrier to do away with 2-year smartphone contracts and subsidized prices for phones.
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AT&T is terminating its two-year plan beginning from January 8. Sprint, T-Mobile and Verizon ditched two-year contracts earlier this year.
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For everyone else, you can pay for the phone at once or over time.
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The main reason AT&T is finally doing away with contracts can be whittled down to a single word.
Now, AT&T will be selling phones at full price – think $1,000 for an iPhone 6S – and financing it for two years while providing connectivity at the going rate. While AT&T Next 12 has $0 down-payment and 20 months installment, but users can switch to another phone after 12 months.
The standard contract plans are fast becoming a thing of history, and AT&T has become the latest carrier to bid adieu to its two-year locking period. In a prepared statement, AT&T said that most customers already are opting for the Next plans, which divided the smartphone price into monthly payments.
AT&T refers to this drastic shift as a “pricing simplification effort”, and it will apply to every phone the provider sells.
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It will stop offering two year contracts on January 7. Goldman Sachs upgraded AT&T to a “buy” rating in a research report on Wednesday, September 2nd. However, unlike the subsidies, once the phone is paid off the customer will no longer have to pay extra fees, which is how it works now under the current contract system. Engadget reports that large corporate customers will still be able to secure two-year contracts for phone purchases. Its services and products include wireless communications, data/broadband and Internet services, video services, local exchange services, long-distance services, telecommunications equipment, managed networking and wholesale services. “This does not apply to business customers under a qualified wireless service agreement”.
