Verizon Wireless set to double early termination fee to $350 on November 15

Apple Online Store “A new connect has emerged with a few documents and it looks like starting on November 15th Verizon will be charging up to $350 as an early termination fee on ‘advanced devices,'” Andrew Munchbach reports for The Boy Genius Report.

MacDailyNews Take: “Verizon’s definition of “advanced device” is whatever iPhone-lookalike-not-workalike they’re dangling this month (LG Voyager, HTC Touch, BlackBerry Bold, Samsung Omnia, BlackBerry Storm, Motorola Droid) in order to dupe the ignorant.

Munchbach reports, “This new ‘improved’ fee does have a minute silver lining (if you can even say that): for every month of service completed, the $350 sum will decrease by $10.”

Full article here.

MacDailyNews Take: So, should you double your risk on this month’s iPhone-lookalike-not-workalike or should you just make the smart choice and get an iPhone? Apple and AT&T Mobility have to be smiling at this news. Verizon Wireless just shot themselves in the foot yet again.

42 Comments

  1. “Verizon’s definition of “advanced device” is whatever iPhone-lookalike-not-workalike they’re dangling this month to dupe the ignorant.

    Um Yeah Except That
    It Isn’t Really Their Fault
    They Don’t Have iPhone

  2. WOW! That will certainly keep people from making any choice in case it is a bad choice. I know, anything other than an iPhone is a bad choice, so no need for anyone to say it! But seriously, that will make you think twice about being stuck with a POS for two years.

  3. To stem the tide of customers leaving for greener pastures, i.e., iPhone, Verizon will also be implementing the following “customer retention” techniques.

    1) When you call to terminate, an ear-piercing noise will come through your phone making you deaf and unable to use an iPhone or any phone.

    2) Your final Verizon will contain a bunch of charges for calls to 900 sex numbers that will cause your spouse to divorce you, thereby making you too poor to afford an iPhone.

    3) Verizon will have one of the Soprano boys personally deliver your final bill, who will also teach you the multiple uses for a baseball bat.

    Verizon’s new motto: #1 in customer satisfaction, or else.

  4. This is to stop people from purchasing expensive smartphones at their heavily subsidize contract prices and paying the ETF in order to get the handset cheaper. Something ATT would’ve been smart to do when so many customers used the same method to rip them off and get cheaper iPhones. Verizon is simply learning from those mistakes and planning accordingly.

    If this was to stop customers from leaving for the iPhone then it would be the new standard ETF for every phone.

  5. iDon’t…:

    – like my customers
    – know how to stop hemorrhaging my customers to the iPhone (might as well punish them for leaving)
    – want any new customers
    – know a good thing when I see it
    – understand why the Storm wasn’t an iPhone killer
    – understand why the Droid or Storm2 still won’t be an iPhone killer
    – know what it is like to use data and voice at the same time
    – know why Apple is still refusing to give us the iPhone… we only demand a vVerizon sticker on the device, Vcast, and $3 ringtones!

  6. @ R2
    Wrong, why target the “advanced phones”? Because those are the revenue generating phones, like iPhone. They do NOT want to loose their top paying customers to AT&T;. Verizon seriously miscalculated Steve Jobs and his luxury priced items that generate MORE income per purchase than ANY other phone manufacturer. PERIOD. Would you leave if you had to pay 350.00 to terminate? NO, I think not. This is lock in to buy them some time until they can gauge Droid uptake. PERIOD

  7. Absolutely ridiculous.

    As an example…

    I own an extremely good home alarm system. I was able to keep it after the contract from ADT expired. However, when I purchased a new house, it already came with an alarm system in place. I’ve been using this system for over 5 years now, because the company did not make me sign a contract.

    Even if a product isn’t as good, I’m more inclined to do business with a company that doesn’t require a contract. Verizon is going in the opposite direction. Crappy products, crappy contracts.

    I’m Canadian, so I’m interested to see what Telus has to offer in terms of contracts tomorrow (Nov. 05).

  8. Call me crazy, but in the UK the early termination fee is equal to the number of months remaining * your monthly fee. So like AL said, that must be a 36 month contract at $10 a month? Either that or those in America are getting screwed even further than they already are! Seriously if I lived in the States I’d use a cup and string ” width=”19″ height=”19″ alt=”wink” style=”border:0;” />

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