Verizon upgrade program gets you a new phone every year

Verizon hopped on the annual phone upgrade bandwagon late last year, but only for iPhones -- not much good if you prefer Android-flavored devices. Thankfully, it's widening that circle today. The carrier is launching an Annual Upgrade Program that gets you a new smartphone each year. So long as you buy Samsung's Galaxy S7 or S7 Edge on an installment plan, you won't have to shell out more to upgrade to something new. You can upgrade as soon as 30 days after you activate a new phone, although you'll need to have paid at least 50 percent of the device price first -- this isn't the best choice if you're prone to buyer's remorse.

Big Red's move is really a response to existing programs like Sprint's iPhone/Galaxy Forever and T-Mobile's Jump. It's a way to keep you from switching to other carriers if you're the sort who always has to have the latest phone in your pocket. With that said, it's tempting stuff if you're a Galaxy fan. Provided you're comfortable with Verizon and don't mind making device payments on top of your carrier fees, it's cheaper than either buying new phones outright or paying a hefty premium to upgrade early.