Many of are used to upgrading to a new mobile phone every couple of years and receiving the new phone either for free or at a greatly reduced price. But if you are a Verizon customer, that perk is about to come to an end.

The major cell carriers have traditionally offered their customers a selection of subsidized phones in exchange for having them sign on to two year contracts. If a customer subsequently canceled their contract before the two years was up, they would have to pay for the phone by coughing up a huge Early Termination Fee.  [Read more…]