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Verizon: $350 ETF Is A Go

Verizon Wireless has confirmed that it is in fact altering its Early Termination Fee policy. Starting November 15, those purchasing "advanced" devices such as smartphones and laptops, will need to agree to a $350 ETF to get the subsidized price.

Here's the word directly from Verizon Wireless spokesperson Jeffrey Nelson:

We are raising the ETF for contracts associated with the purchase of an advanced device (ie smartphones, PDAs, netbooks) at a reduced price. This change ONLY applies to new contracts beginning Nov. 15, and ONLY when the customer ends serivce before the term is up. The ETF will be $350 and will decline by $10 a month.

Our ETF for all other devices remains at $175, which was set long before people were walking around with expensive, sophisticated, mini-computers in their pockets.

ETFs allows customers to have it either way: They can have no ETF on a month-to-month service and pay full retail for their device. OR, they can get a greatly discounted device by having an ETF. Here's the math: $179 for a Storm2 with 2-yr contract -- even if you break the contract very early on before the first $10 incremental decline, you're paying $529. Full retail is $539.

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