And that's good - those who are financially constrained shouldn't be getting (enticed) into debt-traps by buying a brand-new high-priced device when really cheaper alternatives are available. Note that the article points out that Verizon already unlocks all their phones after 60 days due to a previous agreement with the FCC. So this has already been "tested" in the marketplace and Verizon hasn't wound up this business model of payment plans. The article also points out the consumer benefit of this FCC policy - once Verizon unlocks its phone, their customers have more freedom to try other services through trial eSims, while customers of AT&T and T-Mobile can't because of their (longer duration) locked phones.
There's no functional difference between "If you're poor, you should save $50/month for the next 2 years, and when you do that, maybe then you can get that $1200 phone", versus "You can pay $50/month for the next 2 years and get that $1200 phone now", other than bias against the "financially constrained".
A person can walk into a Best Buy today and buy a carrier-agnostic, factory-unlocked Android phone -- new, in a retail box, with a warranty -- for less than $100. No strings, no contracts, no weird stuff. It's just an item that they have for sale in their store.
(Or, FFS: The last Android phone I bought new was $64.00, including tax and overnight delivery. It came with a 60-day carrier lock, but my carrier is cheap.)
> Depending on your budget, you can get a feature phone for around $50
Own AAPL, not Apple.
(on second thought...)
I prefer buying used phones so I don't have any experience with that...except the first phone I bought... I understood from Verizon that the phone was included in the plan. Turns out I owed $300 for a dumbphone at a time in my life where $300 was a lot more than I wanted to pay for a phone.
I replaced it with a used smartphone for $20 a year later.