One week after Verizon Wireless eliminated traditional, two-year service contracts for all new customers, Sprint announced Monday that it would follow suit with its own plan to abandon contracts by the end of this year in favor of a new lease offer that enables customers to upgrade immediately to the latest iPhone models. 
 
Sprint’s new “iPhone Forever” promotion builds upon a no-contract lease program which Sprint had marketed alongside two-year service contracts and which allowed customers to pay the full retail cost of their devices in monthly installments over two years.  Unlike Sprint’s previous lease offer, which required customers to wait two years to upgrade their devices or pay off any remaining balance on their existing devices when upgrading early, iPhone Forever enables subscribers to upgrade immediately without impacting their monthly lease payment.  Heralding the new lease plan in a press statement, Sprint CEO Marcelo Claure explained, “we decided how awesome would it be if, anytime customers don’t have the latest iPhone, they are eligible to upgrade and have it be as simple as handing us your existing iPhone and picking up a new one – all included in your monthly rate.”