Verizon’s iPhone 15 Plus Giveaway: A Sweet Deal or a Trap?
📷 Image source: zdnet.com
The Hook
Free iPhones? Really?
Verizon’s latest promotion sounds too good to be true: up to four free iPhone 15 Plus devices. No strings attached? Not quite. The deal, which kicked off this week, is part of the carrier’s aggressive push to lock customers into its premium unlimited plans.
On the surface, it’s a no-brainer. Trade in an old phone—even a cracked one—and Verizon covers the cost of the shiny new iPhone 15 Plus over 36 months. But dig deeper, and the fine print reveals the catch: you’re signing up for a three-year commitment with Verizon’s priciest plans. Miss a payment or switch carriers early? You’re on the hook for the full retail price.
The Math Behind the Magic
Why Verizon Can Afford to Give Away $3,000 Worth of Phones
Let’s break it down. The iPhone 15 Plus starts at $899. Multiply that by four, and Verizon is theoretically handing out $3,596 worth of hardware per household. But here’s the thing: the carrier isn’t losing money.
Verizon’s top-tier unlimited plan, ‘Unlimited Ultimate,’ runs $90 per line per month. Over three years, that’s $3,240 for a single line—or nearly $13,000 for a family of four. Even with the phone subsidies, Verizon comes out ahead.
‘It’s a classic loss leader,’ says telecom analyst Roger Entner of Recon Analytics. ‘They’re betting that once you’re in their ecosystem, you’ll stay—and pay.’
Who Wins, Who Loses?
The Fine Print You Need to Read
For heavy data users who were already planning to stick with Verizon’s premium service, this is a legitimately great deal. The iPhone 15 Plus is no slouch—it’s got Apple’s A16 Bionic chip, a 6.7-inch Super Retina XDR display, and a 48MP main camera.
But for everyone else? The math gets murky. If you’re on a budget plan or frequently switch carriers for better deals, the 36-month lock-in could backfire. And don’t forget: Verizon’s ‘free’ phones come as monthly bill credits. Leave early, and those credits vanish—leaving you with a lump-sum payment for the remaining balance.
‘It’s not free if you have to pay to leave,’ quipped Reddit user u/PhonesAreTraps in a viral thread dissecting the offer.
The Bigger Picture
Why Carriers Are Desperate to Lock You In
Verizon isn’t being generous out of the goodness of its heart. The wireless industry is in a brutal fight for subscribers, with T-Mobile and AT&T offering similar trade-in deals. Churn rates—the percentage of customers jumping ship—are a constant headache for carriers.
5G upgrades haven’t delivered the revenue bump executives hoped for, and with phone innovation plateauing, carriers are leaning harder than ever on service plans to drive profits.
‘This is about reducing churn and maximizing ARPU [average revenue per user],’ says CCS Insight’s Ben Wood. ‘The phone is just the bait.’
Should You Bite?
A Reporter’s Reality Check
If you’re all-in on Verizon and want the latest iPhone, go for it. But here’s my advice: run the numbers first. Compare your current plan’s total cost over three years (including any phone payments) with Verizon’s offer.
And ask yourself: will you really stay put for 36 months? The wireless landscape changes fast—new competitors, better plans, even technological breakthroughs could make today’s ‘deal’ feel like an anchor tomorrow.
As for me? I’m holding onto my paid-off iPhone 12 a little longer. Sometimes, the best deal is the one you don’t take.
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