Tired of waiting two years to upgrade your phone with a new service contract? Starting July 26, AT&T is launching AT&T Next, a service option that lets you upgrade your smartphone every 12 months. The new option will let you pay for your phone every month, rather than make a one time payment when you sign a new contract or purchase the phone outright. AT&T says the monthly payments will range between $15 and $50 per month depending on the phone model. If you choose to keep the phone after a year, you’ll be able to continue to make payments on it for 8 months until it’s paid in full. For those of you who want a new phone every year, this is a great way to keep up with the latest models without having to pay up front.
The new AT&T plan is similar to T-Mobile’s recently announced JUMP upgrade program, which lets customers get two device upgrades per year for an extra $10 per month.
There are unconfirmed reports Verizon Wireless may launch its own upgrade option, called VZ Edge, which would let customers upgrade their phones once 50% of the device is paid off. That service is rumored to launch Aug. 25.