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T-Mobile wants to help with the paying off of your iPhone — but there’s a catch

As the battle for the mobile phone subscribers wages on between the providers, T-Mobile has yet another arrow on his bow, the stimulation of Verizon customers who have an iPhone to switch between networks.

As part of a new promotion starting May 31, a Verizon customer with an iPhone 7, iPhone 7 Plus, iPhone 6, iPhone 6s Plus or iPhone SE can their phone on a T-Mobile store and the phone will be paid by T-Mobile.

However, Verizon customers are required to pay $15 per month for T-Mobile Premium Device Protection Plus insurance program. The insurance program protects the iPhone against loss, theft or damage.

The offer is only available in the US and customers will get the remaining amount due on their iPhones in a digital prepaid MasterCard in around 15 days after they trade in their device.

T-MOBILE CEO IS TROLLING, VERIZON ON TWITTER AFTER THE EARNINGS MISS

“After desperately the launch of unlimited, Verizon network suffocated, as our network speeds greatly increased. Today, T-Mobile has a whopping 23% speed advantage over Verizon,” said T-Mobile CEO Legere in a statement. “So, to kick off the summer, we are going BIG right out of the gate and throwing a lifeline to millions of Verizon customers. Now, you can ditch Verizon, keep your phone, and we’ll even pay off for you!”

Analysts believe that the new marketing initiative, for which T-Mobile and Legere have become known, keep Verizon in the defense and could be a precursor of the other announcements.

Jackdaw Research analyst Jan Dawson, said the deal applies to Verizon, because of how similar Verizon network T-Mobile network.

“It also helps that Verizon is doing a little better than the last time sharp since the reintroduction of unlimited services – turned around its postpaid phone net add trend in Q1 after the move – and so T-Mobile may feel to be more aggressive to restore the balance, and keep the positive porting ratio versus Verizon,” Dawson said on his Tech Tales web site.

Dawson added that T-Mobile is probably the introduction of the “other announcements like this in the next few weeks.”

Legere has often poked fun at its larger competitors, as they are losing subscribers to T-Mobile, which is aggressively gaining new subscribers through the marketing tactics.

In April, Legere and pinned the New York-based Verizon on Twitter after the company reported first quarter earnings that missed Wall Street estimates. He also said that the retail postpaid subscribers — the most lucrative for a telecom — fell by 307,000 during the period, including 289,000 phone lose.

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