Verizon wireless to introduce “cash”-for-clunkers promotion
According to internal documents procured by Phone Arena, Verizon Wireless is set to roll out a trade-in program, offering customers $100 gift cards for ditching their old “dumb” phones for smartphones.
Verizon’s newest promotion aims to convert users of “basic” phones into high-revenue-generating smartphone users, offering customers a $100 gift card in exchange for their old phones.
To be eligible for the promotion, customers must sign a 2-year service agreement with a data plan, and must purchase (and activate) a new smartphone between August 18, 2011 and September 30, 2011. An online submission must be filled out and the basic phone mailed in within 30 days.
Not unlike the subsidies carriers offer in exchange for 2-year contracts, the promotion is a cost-effective way to get users locked into expensive plans for their data-hungry smartphones. Verizon killed their unlimited data plans earlier this year. The document also shows the carrier hopes to increase their take from accessory sales after adding new smartphone customers.