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August 11, 2015
NEW YORK — Verizon is doing the unthinkable: Starting Thursday, the nation's largest wireless company will eliminate two-year service contracts, along with the practice of offering discounted phones at prices of $100 or $200.
Although this has already been an option with major phone carriers, Verizon joins T-Mobile in dropping contracts and discounted phones entirely for new customers. Under the new system, people will buy phones outright, with the option of paying the full retail price in monthly, interest-free installments.
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