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Verizon: 'it's a mistake' to abandon subsidized phone plans
Of the four major operators in the US wireless industry, Verizon seems to be the most hesitant in making a transition to phone installment plans. Last year, the company launched a plan called Edge in which customers agree to pay for the full retail price of their smartphone in monthly payments; however, Verizon has taken its time in making Edge competitive with AT&T's and T-Mobile's offerings. Big Red is quite a bit more cautious than its competitors, choosing instead to promote its traditional subsidized plans, which involves the customer buying a new phone at a discount in exchange for a two-year contract. Verizon executives have been pretty quiet about future plans, but CFO Fran Shammo shed some light today on exactly why his company isn't making such a huge leap.
