Customers need to switch to Sprint and bring their own device and SIM card. The offer is good only through June.
While Sprint and T-Mobile (TMUS -1%) usually take aim at both AT&T (T -0.7%) and Verizon (VZ -1.3%), Sprint's offer banner urges: "Stop feeling ripped off by Verizon." It says those with one line can save $960/year vs. Verizon, and those with four lines can save up to $2,160.
The aggressive offer is likely to set off repercussions in the hotly competive sector.
The deal is "arguably the most aggressive promotion in the history of the U.S. wireless industry," writes analyst Craig Moffett, who notes Sprint could be trying to shore up a weak quarter with a push for new subs.
Analyst Roger Entner notes that Sprint has a low marginal cost of adding a subscriber on a non-fully-loaded network, though it risks annoying existing customers who aren't getting such a sweet deal.
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