Verizon Wireless has reduced the upgrade time for subscribers under the "Verizon Edge" plan.

Previously, "Edge" subscribers were able to upgrade to a new smartphone after a minimum of six months into the 24-month installment plan. Verizon, however, has cut the six-month wait down to 30 days.

The six-month reduction has been rumored to come after T-Mobile's announcement that it'll pay customers' early termination fees to switch from rivals AT&T, Sprint, or Verizon.

A Verizon spokesperson stated, via CNET, that the 30-day upgrade is "currently a promotion but we have not set an end date. It is in response to our customer's requests regarding this popular payment and upgrade plan.....While it is important to understand what our competitors are doing, Verizon makes decisions based on what's best for both our customers and business."

Customers who plan on upgrading their smartphone after the 30-day period must have paid at least 50 percent of their smartphone's cost.

In addition, Verizon Wireless is offering a $100 gift card when trading a smartphone for the Edge plan. According to Verizon, the smartphone that would be traded in "must be in good condition." The new smartphone under the Edge plan must be a 4G LTE device. Activation costs are also waived. The $100 Verizon gift card offer ends March 31.

"Verizon's move does lessen this 'bonus' amount that it generates from Edge subscribers, in that one could theoretically pay for the first month's service, pay for half the cost of the smartphone, and upgrade away, though it seems like a bit of an expensive proposition after a mere 30 days with one's brand-new device," reported PC Mag's David Murphy.

What do you think of Verizon's "Edge" move?

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