Sprint Corp (NYSE:S) announced a $1 monthly option for Apple (NASDAQ:AAPL) Inc’s new iPhone, upping the ante in the battle amongst the top U.S. carriers to sign up customers ahead of the iPhone’s introduction.
With Sprint’s plan a customer can get an iPhone 6s Plus for $5 a month, when trading in an iPhone 6 or a 16 GB iPhone 6s for $1 per month with a trade-in an iPhone 6.
Sprint’s rival T-Mobile US Inc is offering the 16 GB iPhone 6s for $5 per month in exchange for an iPhone 6, 6 Plus or Samsung Electronics (KS:005930) Co Ltd’s Galaxy Note 5 and Galaxy S6 variations.
The U.S. wireless business has been becoming extremely competitive and the introduction of the latest iPhones is an opportunity for third and fourth place carriers, Sprint and T-Mobile to gain market share.
Apple said it was offering its own leasing plan for an unlocked iPhone, which will allow the customer the flexibility to change between carriers, rather than be tied with a mulit-year contract with a single carrier.