Verizon Wireless (VZ, VOD) makes a fresh attempt to lower phone subsidy expenses: the top U.S....

|About: Verizon Communications (VZ)|By:, SA News Editor

Verizon Wireless (VZ, VOD) makes a fresh attempt to lower phone subsidy expenses: the top U.S. carrier will soon require customers to wait a full 24 months from the time a contract begins to receive a subsidy for a new phone. Thus far, Verizon has been allowing some subscribers to receive a subsidy after 20 months. The announcement comes a year after Verizon implemented a $30 phone upgrade fee, and a month after CFO Fran Shammo stated Verizon wants to sell 4G-only devices by late 2014 in an effort to lower hardware costs.