Verizon debuts annual iPhone upgrade plan

The carrier wars for iPhone customers are continuing today, with the latest entrant being Verizon. Following up on ridiculously low leasing prices offered by Sprint and T-Mobile, Verizon has unveiled a new promotion for iPhone 6s and iPhone 6s Plus buyers that will let them upgrade to a new iPhone every year. From Verizon:

The new program allows you to turn in your phone and upgrade to a new iPhone every year. If you pre-ordered an iPhone 6s or iPhone 6s Plus, you're automatically enrolled in this program if you've elected the Device Payment option.

The new plan is being offered alongside sales of the iPhone 6s and iPhone 6s Plus starting tomorrow, so long as buyers opt for Verizon's Device Payment option. Verizon says that if you decide not to upgrade a year from now, you can still pay off your device over 24 months, effectively making this plan similar to a 24-month contract with an option to upgrade every year.

Source: Verizon

Dan Thorp-Lancaster