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Sprint on Friday announced a new 12-month lease option for its “iPhone for Life” plan, which lets subscribers “rent” a new iPhone for a pre-set period instead of buying it.
Under the new terms, customers can upgrade their iPhone every 12 months, in line with Apple’s usual annual product cycle. Sprint’s new lease option is an update to the original 24-month “iPhone for life” program that debute’d alongside the iPhone 6 in September.
Pricing is based on model and capacity, with a 16GB iPhone 6 coming in at $30 per month, while a 16GB iPhone 6 Plus costs $35 per month. This compares to $20 per month for a base model iPhone 6 and $25 per month for a 6 Plus on the 24-month iPhone for Life term.
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Aside from freedom to upgrade, Sprint’s plan also lets customers take home a new iPhone without putting down a lump sum payment. Following the lease period, subscribers can choose to purchase the device, continue to lease it on a month-to-month basis or return it.
Sprint intends to launch the new 12-month iPhone for Life plan on Nov. 14. The wireless carrier is also planning to make the iPhone 5S available for lease on that date, with prices starting at $18 per month for 24-months.
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