This shouldn't be that big of a surprise, but today Sprint announced that they will give T-Mobile customers up to $550 to switch over to the Now Network. Breaking that down, it's $200 for your trade in, and $350 to pay off your termination fee, or in T-Mobile's case, to pay off your smartphone you bought from them on an EIP. Sprint has been trying to lure customers away from AT&T and Verizon lately with their "cut your bill in half" promo. Which actually it's only about 20-30% off, but that's still a cheaper phone bill. Now they are turning their attention to T-Mobile.
Sprint has a nice little table (shown below) showing you how much you'd save by switching over to Sprint. And it's really not a ton, when compared to switching from Verizon to Sprint. Monthly bill on Sprint would be $60 vs $80 on T-Mobile. But with the carrier's respective leasing options, Sprint would be about $80 vs $107 at T-Mobile. So that's a $27 difference. Which can add up really quickly. That's $324 over the course of a year. But that is also variable on which phone you decide to buy from Sprint.
"Year after year Sprint continues to lead the way among all major U.S. carriers for its phone trade-in program because they make it easy and rewarding for their customers," said Kate Pearce, director of mobility research and senior wireless consultant at Compass Intelligence. "Their program allows the flexibility and financial benefit customers are looking for when they're thinking about upgrading to a new phone or switching carriers."
If you have great Sprint coverage in your area, then this is a deal you'll probably want to look at pretty hard. Sprint is indeed cheaper, but if Sprint doesn't have adequate enough coverage in the areas that you live or work in, is it really worth the cheaper price?