Sprint has today announced a new program customers will be able to take advantage of. For those who desire either the Samsung Galaxy S5 or Galaxy S5 Sport, you'll now be able to lease the smartphones at $20 a month for 24 months. And if you qualify, Sprint will also charge you absolutely nothing at lease signing for the chosen handset.

Once the 24 months have passed, customers (including businesses) then have a choice of turning in the leased handset for another phone (with zero paid down at signing), purchase the device outright there and then, or continue the lease on a month-to-month basis. It's also possible to return the leased smartphone and terminate service.

For existing Sprint customers the US carrier plans to offer additional value through January 15 2015. Should you be eligible and opt-in for Sprint Lease, you'll receive $15 worth of credit per month, which essentially brings down the monthly fee for leasing the Samsung Galaxy S5 to just $5.

What do you make of the new program? Check out more details in the press release below.

OVERLAND PARK, Kan. (BUSINESS WIRE), October 31, 2014 - Sprint (NYSE: S) continues to offer U.S. consumers the best value in wireless with the expansion of its industry-first, innovative leasing program to Samsung Galaxy S 5 and Samsung Galaxy S 5 Sport. Beginning Friday, Oct. 31, new and existing customers and businesses can acquire Galaxy S 5 and Galaxy S 5 Sport for $20 per month (excluding taxes and fees) through Sprint Lease.

The new Sprint Lease allows customers to lease a 16GB Galaxy S 5 or Galaxy S 5 Sport for $20 a month for 24 months. Qualified customers pay zero out of pocket at lease signing for the phone. At the end of 24 months, customers in good standing currently have the following options to continue service:

  • Turn in the current leased Galaxy S 5 or Galaxy S 5 Sport and lease another phone with zero down at signing
  • Purchase the leased Galaxy S 5 or Galaxy S 5 Sport
  • Continue leasing Galaxy S 5 or Galaxy S 5 Sport on a month-to-month basis
  • Or, when the lease ends, the customer has the option to return the device in good working condition and terminate service

Best Value in Wireless

Sprint is committed to offering U.S. consumers the best value in wireless and double the data on nationally available plans compared to AT&T and Verizon Wireless at the same or lower monthly price. With the Sprint Family Share Pack, Sprint offers double the sharable data for smartphones, basic phones, tablets and mobile broadband devices. Sprint also offers customers unlimited talk, text and data for $60 per month with the Sprint $60 Unlimited Plan – a $20 savings per month compared to T-Mobile's $80 unlimited plan.

In addition, when switching to Sprint, a family with up to 10 lines can get 20GB of shared data and unlimited talk and text for only $100 a month through 2015. For a family of four, that's a savings of $60 per month versus AT&T and Verizon's current pricing through 2015; double the data of AT&T and Verizon; and double the high-speed data of T-Mobile.

"Sprint Lease makes it easy and affordable for new and existing customers to acquire the innovative Samsung Galaxy S 5 and Galaxy S 5 Sport," said Tom Roberts, senior vice president of Marketing, Sprint. "Sprint Lease is the lowest cost for customers at point of sale and is the lowest monthly cost for acquiring the Galaxy S 5 or Galaxy S 5 Sport. Sprint is giving U.S. consumers what they want – simplicity and value."

Existing Customers

Sprint is rewarding its established customers with additional value when leasing a new Galaxy S 5 or Galaxy S 5 Sport. Beginning Oct. 31 through Jan. 15, 2015, eligible and well-qualified Sprint customers who participate in Sprint Lease will receive a $15 monthly loyalty service credit when leasing Galaxy S 5. After the monthly credit is applied to the customer's account, it's like paying $5 per month, per line for Galaxy S 5 or Galaxy S 5 Sport.

Sprint Lease and loyalty service credit is available to those Sprint customers on Unlimited My Way, My All-in, Simply Everything and Everything Data (Share). Customers happy with those service plans can keep them and take advantage of the opportunity to lease Galaxy S 5 and receive a monthly loyalty service credit. The service credit is applied within two invoices of activation.

Sprint has already built its 4G LTE network to serve more than 255 million people, with more on the way making it easy for customers to enjoy data on their devices.

But that's not all. In addition to all new Sprint 3G network and its 4G LTE network, Sprint is deploying Sprint Spark™, a technology designed to greatly improve the performance of video and other bandwidth-intensive applications, including new generations of online gaming, virtual reality and advanced cloud services. It enables stutter-free video chat on-the-go and mobile gaming that leaves lag behind.

Available today in 27 markets across the country, Sprint Spark is an enhanced LTE service that's built for data and designed to deliver average wireless speeds of 6-15Mbps and peak wireless speeds of 50-60Mbps today on capable devices, with increasing speed potential over time. Sprint plans to reach 100 million Americans by year-end with the service.