T-Mobile is trying something new: an early upgrade plan that lets users trade in their smartphones for a newer model up to three times a year. The initiative, called JUMP! On Demand, leases out phones rather than selling them, and is aimed at tech junkies itching to upgrade their phones more often than they already do.
“The great thing about this program is the choice is all the customer’s,” Mike Katz, senior vice president at T-Mobile, told Fast Company. “They literally can do it whenever they want, and they can do it up to three times a year.” T-Mobile’s new plan follows the launch of a similar leasing model at Sprint last year. A full list of eligible smartphones is available at T-Mobile’s site.
Customers are locked into an 18-month leasing contract for JUMP! On Demand, though they have the option of purchasing the phone at the end of that time frame. T-Mobile is promoting the launch with an offer for an iPhone 6 at a rate of $15 a month. The mobile company’s previous JUMP! upgrade program, which launched in 2013, will continue to be available to consumers.
Fast Company recently profiled T-Mobile CEO John Legere for a story in our July/August print issue.