Are you looking to get a smartphone on the Verizon network anytime soon? Make sure that you like it before you sign a contract, since starting November 15th, Verizon will be imposing a higher early termination fee—up to $350—on contracts for “advanced” devices. That means smartphones.
Why would they do such a thing? Not just for the sake of greed. It’s because of their “buy one Blackberry, get one free” promotion for the holidays. WIthout the ETF hike, this could have led to an exciting new way to subsidize your purchase of a sexy new Tour: get another Blackberry of any type on the second line, cancel it, eat the $175 ETF, sell it on eBay and profit from the difference. Instead, there’s now a $350 ETF, which will decrease by $10 for every month that the phone is activated.
Confirmed: Verizon Wireless to charge up to $350 early termination on “advanced devices” [Boy Genius Report] (Thanks, GitEmSteveDave!)