07-05-2006, 03:00 PM
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Editor Emeritus
Join Date: Aug 2006
Posts: 15,171
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Verizon To Be Fair With Early Termination? Verizon!?
"Targeting a top gripe by cell phone users and breaking ranks again with its industry, Verizon Wireless plans to prorate the fee it charges subscribers who break a contract so they only pay an amount proportional to the time left on their agreements. The change in the early termination fee will be implemented this fall for all new customers and any Verizon Wireless subscribers who sign a new contract...[the company] was [also] addressing another customer frustration by enabling existing subscribers to upgrade to a new handset at the same steep discounts being offered to lure new customers."
8O Verizon, of all companies, is moving to improve the cellular phone contract situation in the United States. Verizon was first to support number portability, and the remaining carriers caved in soon after; I hope this is the beginning of contract fairness for all carriers as well. It's a bigger issue for power users like us who are more likely to switch contracts. Those of you interested, though, take note: this is going to take effect sometime in the fall, and presumably not for contracts starting now. :?
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07-05-2006, 04:31 PM
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Editor Emeritus
Join Date: Sep 2006
Posts: 3,060
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As Artie Johnson (look it up) used to say:
"Veeerrry innnnnnterestink!"
This seems to be great news. I can't help but wonder what the economic incentive for this is. Just good PR? An attempt to force the other players to do likewise and get the good early PR AND the benefit of a playing field that will ultimately level itself on this issue?
__________________
Old Market Researchers never die...they just get broken down by age and sex.
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07-05-2006, 05:02 PM
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Pontificator
Join Date: Aug 2006
Posts: 1,162
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Quote:
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Originally Posted by Brad Adrian
This seems to be great news. I can't help but wonder what the economic incentive for this is. Just good PR? An attempt to force the other players to do likewise and get the good early PR AND the benefit of a playing field that will ultimately level itself on this issue?
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If I remember correctly from when I last shopped for phones/plans, Verizon gives you less minutes per dollar and their primary selling point has been their network being the best. For example, Verizon offers 450 mins for $40, while T-mobile offers 600.
Now that other companies have likely caught up at least a bit when it comes to network, they need to keep people with them somehow.
Also the allowing new phone upgrades at lower cost is a huge incentive to stay with a company.
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07-05-2006, 05:22 PM
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Oracle
Join Date: Mar 2007
Posts: 952
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I think the economic incentive at least here in Massachusetts is that they can now charge Higher late fees for late bill payment. This pro-rating announcement came shortly after I heard about the late fee hike.
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07-05-2006, 05:33 PM
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Intellectual
Join Date: Mar 2002
Posts: 248
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it may also be a "our network is better than yours" statement. I am a cingular user and have been pretty happy with their service in my home state (a former ATT stronghold). However, I now commute via train to DC from Philly. The Cingular service is flat out lousy while Verizon is solid just about the whoel way through. That doesn't even mention the fact that I get about 70% Broadband access coverage on the route (100% between Philly and NYC). Not only does cingular not offer this coverage along this route outside DC/Balt but even there it seems to have trouble handing off the signal at the train speeds. They do have more expensive plans, but I rarely use all my minutes anyways. T-mobile is terrible is you don't live in a major city, it seems...although when I was with T-mobile I have to say they did make noticable strides. My beef with verizon is that I can't use, say, the i730 as a modem and a phone. does anyone know vz's churn rate vs the competition?
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07-05-2006, 05:48 PM
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Editor Emeritus
Join Date: Aug 2006
Posts: 15,171
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Quote:
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Originally Posted by Jacob
Now that other companies have likely caught up at least a bit when it comes to network, they need to keep people with them somehow.
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I believe statistics have shown that Verizon has the least turnover rate of all the wireless companies, largely due to coverage. This would also explain why they're the first to prorate ETF fees -- they're not worried about the lost income.
--janak
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07-05-2006, 05:50 PM
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Editor Emeritus
Join Date: Aug 2006
Posts: 15,171
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Quote:
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Originally Posted by don dre
does anyone know vz's churn rate vs the competition?
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I googled for a bit; it seems like it's 1.18%. The next carrier is around 1.9%, a significant difference.
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07-05-2006, 06:12 PM
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Thinker
Join Date: Oct 2004
Posts: 354
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Now that they covered the ETF issue they should focus on one of their customers biggest complaints - crippling their phones. Stop messing with BT profiles, poorly implemented Verizon UI and leave the phones as designed by the mfg's. All wireless providers rip us off its just a case of who rips you off less.
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07-05-2006, 06:36 PM
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Oracle
Join Date: Mar 2007
Posts: 952
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Quote:
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Originally Posted by don dre
My beef with verizon is that I can't use, say, the i730 as a modem and a phone. does anyone know vz's churn rate vs the competition?
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On the i730 with WM2003SE OS dial **7284 to bring up modem options. You'll need Verizon's dial up software to make it work with your laptop. Basically you turn on the modem, dial in on your laptop then launch the browser. Our friends at pdaphonehome turned me on to these features. Check in the i730 FAQ list there for more details and links.
HTH
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07-05-2006, 07:35 PM
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Neophyte
Join Date: Dec 2005
Posts: 7
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Stuck with Verizon because I live in a small town, and they are the only ones who cover it 100% So I can't contribute to their 1.18 even if I wanted.
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