At its press event on Wednesday, T-Mobile unveiled a new upgrade program that the carrier is calling its "boldest move yet": the Jump program, which will allow its no-contract customers to upgrade to the latest handsets more frequently than every two years.
T-Mobile's Jump will give customers the option to upgrade their mobile device up to two times a year for the same price as new customers. The plan also includes protection against device malfunction damage, loss or theft and is available to customers for $10 a month.
T-Mobile's plan is drastically different from anything else currently available to consumers. Verizon and AT&T recently changed their respective upgrade polices, with contracts now forcing customers to wait 24 months before upgrading to a new device.
Earlier this year T-Mobile announced its Uncarrier program, offering two no-contract plans that allowed consumers to purchase the devices at full price without suffering higher costs as a result of subsidies. Customers could also opt to pay for their devices incrementally with a small down payment and subsequent monthly payments. However, if customers leave T-Mobile during that period, they are required to pay the full price of the device.
While T-Mobile's new pricing structure certainly afforded new freedoms to customers, it also burdened consumers with the expensive cost of unsubsidized smartphones. The unique Jump program could prove to be a work around for the carrier and a boon for T-Mobile, which continued to lose market share to its competitors over the three-month period from March to May.
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