Sprint's IPhone Forever Upgrade Program

(RTTNews) - Sprint Corp. (S), the third largest U.S. wireless carrier, on Monday unveiled a new plan called "iPhone Forever", which allows its new and existing customers to upgrade to the latest version of Apple Inc.'s (AAPL) iPhone anytime.

Starting today, "iPhone Forever" lets new and upgrade eligible Sprint customers get iPhone for just $22 per month. Anytime customers don't have the latest iPhone, they can bring their iPhone and upgrade on the spot. "iPhone Forever" is available on any eligible Sprint rate plan.

"We asked ourselves, 'What could we do that would move our customers forward with the latest and greatest technology every day?' said Marcelo Claure, Sprint CEO. "We decided: How awesome would it be if anytime customers don't have the latest iPhone, they are eligible to upgrade, and have it be as simple as handing us your existing iPhone and picking up a new one - all included in your monthly rate."

Through December 31, customers on any other carrier or existing Sprint customers who are upgrade eligible and turn-in any smartphone will get a promotional rate of just $15 per month on a new iPhone. When they upgrade to the latest iPhone after December 31, their monthly lease rate returns to current lease pricing, $22 per month.

New or existing customers who are upgrade eligible can bring in any smartphone and get a 16GB iPhone 6 model and their monthly rate will be reduced to just $15 until their next upgrade. As a special promotion, customers who get iPhone 6 and upgrade before December 31 continue with the discount price of $15 until their next upgrade.

Sprint has come out with the new upgrade plan with an intention to counter similar upgrade and leasing programs available through AT&T, T-Mobile and Verizon.

The plan is also introduced in time for the September 9 media event Apple is reportedly planning to show off its latest iPhone lineup. The technology giant is expected to launch three new iPhones at the same time, according to rumors.