T-Mobile is cranking up the hype for its iPhone 5 launch on Friday.
The carrier added another incentive to hop on its bandwagon, extending its trade-in program to include older iPhones from other carriers. In exchange, customers can avoid putting money down for a new iPhone 5, as well as get a reduced monthly rate.
It is clear T-Mobile is excited to offer the iPhone, a key product that’s been missing from its lineup as virtually every other carrier — big and small — began offering it. T-Mobile is hopeful that Apple’s iconic device can reverse years of subscriber declines and spark a comeback.
The deals are designed to lure in customers from rival carriers, or even existing T-Mobile users with an older iPhone brought over from AT&T. T-Mobile noted that the trade-in offer was a limited promotion that would end on June 16.
A new customer that passes T-Mobile’s credit checks would normally pay $99 upfront and $20 a month, on top of the service fee, for 24 months. That covers the cost of the device.
While an AT&T customer bringing an iPhone 5 wouldn’t need to switch, a Verizon Wireless or Sprint Nextel customers might consider it, since their versions of the iPhone aren’t compatible with T-Mobile’s network. An iPhone 5 would garner a $168 bill credit, or $7 in savings each month, which equates to a $13 charge on top of the service fee.
An iPhone 4S would net a $120 in credit, which equates to a $15 device fee each month. The iPhone 4 is worth $24 in trade-in value, or a $19 monthly fee.
“In all cases, you’re walking out the door for less. Getting a really great deal for an iPhone 5,” said Andrew Sherrard, senior vice president of marketing for T-Mobile.
The carrier actually launched its trade-in program last month with the other big changes, but will extend the program to iPhones on Friday. T-Mobile said it takes the phones from its trade-in program, and either recycles them, or repairs, tests, and wipes them to be used again, such as a warranty replacement…
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