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Verizon makes changes to their Edge upgrade program

Beginning June 1, Verizon is changing their upgrade program, Edge, so that the number of monthly payments for a device changes from 24 months to 20 months. Verizon is also changing the percentage of a device's costs that a customer will need to pay off before they can upgrade from 50% to 60%.
By
June 3, 2014
Verizon Edge

Beginning June 1, Verizon is changing their upgrade program, Edge, so that the number of monthly payments for a device changes from 24 months to 20 months. Verizon is also changing the percentage of a device’s costs that a customer will need to pay off before they can upgrade from 50% to 60%.

To nobody’s surprise, this plan mirrors AT&T’s Next plan, which uses a 20-month/60% ratio as well. AT&T and Verizon have a long history of mirroring each other. Two months ago, AT&T changed their Share Everything mobile data plans so that prices were reduced if you were buying data buckets of 10 GB or larger. Sooner thereafter, Verizon made changes by offering $25 off the cost of a smartphone line of service if a customer chooses a data bucket of 10 GB or more.

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Several months ago, Dante D’Orazio at The Verge put together an analysis looking at the lack of cost savings for the upgrade plans. The analysis showed that carriers upgrade programs are slowly beginning to look somewhat reasonable than they did originally.