Unlocked Droid May Get Costlier As Verizon Imposes $350 ETF On Smartphones
Verizon plans to double early termination fees for smartphones to as high as $350. The new ETF applies to customers who have a smartphone with one or two year contract.
According to the Boy Genius Report, Verizon Wireless has raised its $175 early termination fee to a whopping $350 specifically for “advanced devices,” which probably includes all smartphones. The termination fee won’t stay at $350 however: the sum will decrease by $10 for every month of service.
Verizon had been noticing that some customers had been using the promotion to snag some extra cash, getting an extra line with a Blackberry Tour or Storm 2, then selling it on eBay after paying the $175 termination fee, in the end pocketing about $100 or more in cash.
This new policy would be applicable from November 15 which is after the launch date of Motorola Droid.
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