9to5Google
By Andrew Romero & Ben Schoon
Most phones sold in the US are sold by carriers and the most popular option at a carrier is a payment plan, also known as a contract. Recently, Verizon decided to do away with the standard 24-month and 30-month contracts or payment plans.
This change looks like it's only recently happened, as archived pages from January 12 and January 31 show 24 and 30-month terms.
Other carriers such as AT&T are no strangers to the 36-month contract length, as this is their only contract term available.
The selling-point for a 36-month contract is quite enticing - a lower monthly payment for your device, whether high-end or not. The Google Pixel on a 36-month plan is only $19.44/month instead of $29.16/month for a 24-month plan. This difference is pretty significant.
The good news is that existing customers won't be affected for the rest of their contract term. Nothing about existing contracts is changing at all. This new term length is applicable for new contracts only.
This new term length isn't terrible for those who own flagship devices, only for those on budget devices. Why? Well, by the time the contract is over, most budget devices will lose security and system support while flagships built now will more than likely keep receiving updates well into the 36-month mark.
If you want more information on Verizon's new contract shift, visit 9to5Google.com for more details by hitting the link below.