Last year, Apple, Sprint and T-Mobile introduced leases that let customers upgrade frequently for a monthly fee. “Subsidies are like crack,” said Craig Moffett, a telecom analyst with MoffettNathanson, noting the iPhone 7 launch opens a window for carriers to get people to switch providers and grab market share. Used prices for iPhone 6 models range from about $140 to $170, while used iPhone 6s fetch between $200 and $250, according to Gazelle.com. Like the old service contract model, the iPhone 7 upgrades require customers to stick around for two years to make it truly free. In most cases, customers canceling their service early will have to pay off the remainder of the device cost.

Source: Wall Street Journal September 09, 2016 20:22 UTC