In an effort to bring in new customers, Sprint Corporation (NYSE:S) recently cut the price of the iPhone 5S and iPhone 5C. The carrier is offering $100 discounts to customers who bring their number from another carrier to Sprint.
Sprint rolls out a new service called Sprint One Up
New customers will pay nothing for the 16GB iPhone 5C and $99 for the 32GB model. Apple Inc. (NASDAQ:AAPL)'s iPhone 5S will start at $99 for 16GB, $199 for 32GB, and $299 for 64GB. Apple Inc. (NASDAQ:AAPL)'s iPhone 4S will cost nothing. This promotion requires new customers to sign up for a two-year agreement with Sprint Corporation (NYSE:S). On the day of the iPhone launch, Sprint Corporation (NYSE:S) will roll out a new service called Sprint One Up. This service will be similar to Verizon Edge, AT&T Next, and T-Mobile Jump, where customers can pay off for the device with a monthly fee. This new service will allows customers to upgrade their device every year. The subsidized cost of the phone will be divided into twenty-four installments which is added to the monthly bill. The customer can then trade their old phone for a newer model.
The $100 discount is a limited time offer.
iPhone 5C and 5S could prove to be a major win for Apple
CNET explained the appeal behind this particular deal, stating: "The carrier, a distant third to Verizon Communications Inc. (NYSE:VZ) and AT&T Inc. (NYSE:T) by number of subscribers, will be giving up to $100 discounts on any phone, including 16GB iPhone 5Cs on pre-order now priced at $0 on its online store, to people who bring their number to Sprint from a rival. Switch to Sprint Corporation (NYSE:S), keep your number and save on any phone—only for a limited time, and only from Sprint," the deal's language reads. It requires a new two-year contract activation and has restrictions. The offer lasts until October 10, while "supplies last," and excludes taxes, service charges, and an activation fee.
The iPhone 5C and 5S could prove to be a major win for Apple Inc. (NASDAQ:AAPL).