Sprint announces iPhone-for-Life plans with new iPhone rental model

Sprint's freshman CEO Marcelo Claure is leveraging Apple's new iPhone 6 and iPhone 6 Plus announcements today as a chance to differentiate its network from larger rivals. Claure announced that the Now Network will offer an iPhone rental program where customers rent, rather than own, and can trade up their iPhone every two years for a new model along with a new iPhone-only service plan.

Under the new iPhone-for-Life program, customers will rent their iPhone starting at just $20 per month for the base model rather than pay $650 retail for the entry level iPhone 6. Another benefit to renting is that in certain states, like California, customers wouldn't have to pay sales tax on the full retail price of the phone.

Sprint is also announcing an iPhone-only plan that cost just $50 per month for unlimited text, talk, and data. Sprint's announcement comes ahead of rival T-Mobile's Un-Carrier 7 announcement on Wednesday.

Additionally, Sprint is saying that the latest iPhone models support Sprint's Spark network, an LTE network that intelligently connects the iPhone to the best network band or spectrum available.

In addition to the iPhone-for-Life program, Sprint customers can also pay full retail price or finance the device if they prefer ownership rather than rental.

What option are you opting for from Sprint?

Source: Re/Code