T-Mobile aims to end the "contracts in perpetuity" trickery
T-Mobile's CEO John Legere hates the "stupid, broken, arrogant industry" that is the current status quo in the US when it comes to how you pay for use of your mobile devices. We know he hates it, because he tells us at every opportunity — today's CES event being a great example. An announcement today shows how they aim to fix it all.
With what they called their "Get Out of Jail" program in today's Uncarrier 4.0 press release, T-Mobile will pay you up to $650 to get out of your current contract and come to their network. Of course, there has to be fine print for an offer like this, and we're all filled with questions, and T-Mobile has a web site up and running to try and help answer them.
The overview is simple enough. Bring your final bill and T-mobile will pay up to $350 to pay off your existing ETF from AT&T, Verizon or Sprint. If you have an eligible phone, they will also give you some cash for it. Up to $300 cash.
I'm sure we'll find out other details once people start actually using this one, but for now I'd advise everyone considering it to head to T-Mobile's site (see the link below) and do some reading.