Verizon CEO Says He Will Consider Dropping Traditional Cell Phone Contracts, Like T-Mobile

Verizon CEO Says He Will Consider Dropping Traditional Cell Phone Contracts, Like T-Mobile

Verizon may follow in T-Mobile's footsteps and end cell phone contracts... someday. At an event on Thursday, Verizon's CEO Lowell McAdam said that he would consider killing cell phone contracts if consumers demanded it, CNET reports. "We can react quickly to consumers' shifting needs," McAdam said.
In March, Verizon competitor T-Mobile announced that it would end traditional contracts and cell phone plans. The New York Times' David Pogue argued that T-Mobile's contract free system will be a huge improvement for customers. Pogue calls the way cell phone contracts currently work a "conspiracy" and a "rip-off." He writes that T-Mobile's new plan will save customers a whole lot of money and allows users to bow out without penalty. Pogue did the math and decided that if you went with a comparable plan from Verizon instead of T-Mobile, you would pay $960 more over two years.