Earlier this week we caught wind of Sprint's upcoming plans to jump on the accelerated upgrade bandwagon already occupied by T-Mobile, AT&T, and Verizon; and now it's been made official. The rules surrounding the Sprint One Up program aren't that different from what's being offered elsewhere, but it does come at the lowest cost. If you're fine with committing yourself to the Sprint network and want to make the leap to a new phone each year, you can soon do so for a month.

If you haven't kept up with these new annual upgrade plans - and I wouldn't blame you if you hadn't, considering these plans are more about locking you in than saving you money - here's how it works. Customers don't have to pay any money down (for a limited time) and can instead spread out the cost of the phone over a 24-month period. After a year of faithful payments, a customer becomes eligible to trade in his or phone (in good condition) for a new model. Doing so restarts the 24-month interest-free payment plan anew.

What's unique about Sprint's plan, though, is the $15 discount of offers on the Unlimited Everything plan. If you're perfectly fine with the company's relatively slow network, going with the Sprint One Up plan actually can save you money. It doesn't beat buying a phone outright and living contract-free, but unfortunately that's not really the American way.

In honor of the launch, Sprint is extending this offer out to current customers who aren't yet eligible for an upgrade but have already had their phone (again, in good condition) for twelve months. The One Up plan will become available on September 20.

OVERLAND PARK, Kan. (BUSINESS WIRE), September 20, 2013 - In continuing its commitment to offering customers the best value in wireless, Sprint (NYSE: S) announced todaySprint One UpSM, a new upgrade program that gives customers unlimited talk, text and high speed data while on the Sprint Network plus the ability to upgrade their smartphone every 12 months starting at just $65 a month1. The new program is available Sept. 20 to new and existing customers on Unlimited, My WaySM and My All-inSM plans.

Sprint One Up offers customers an affordable option to upgrade their device more frequently. With Sprint One Up, participating smartphone customers get unlimited talk, text and data for an introductory rate of $65 per month – a $15 per month savings off their Unlimited, My Way standard rate plan and Sprint’s guarantee of unlimited talk, text and data for the life of the line of service2. Sprint One Up is also available for smartphones on the My All-in plan as well as on tablets in combination with tablet plans starting at just $5 a month.

To participate, customers simply purchase an eligible smartphone or tablet and agree to 24 monthly installment payments for the device. For a limited time, customers can enjoy no down payment for the device. After 12 consecutive payments, customers can give back their current device and upgrade to a new smartphone or tablet.

“Sprint One Up is the best value in wireless,” said Sprint CEO Dan Hesse. “The new program gives Sprint customers the ability to upgrade every 12 months and unlimited talk, text and high speed data for just $65. And, unlike other carriers, Sprint guarantees the unlimited talk, text and data for life. No other plan can compare.”

Sprint One Up for Existing Sprint Customers

Existing customers meeting upgrade eligibility requirements also can participate in Sprint One Up. In celebration of this significant launch, Sprint is rewarding current customers with the opportunity to join Sprint One Up through the holidays. Sprint customers who are not yet upgrade eligible, but have had their current phone for 12 months, can give back their current eligible phone and sign up for Sprint One Up, provided they meet the credit qualifications3.

Best Value in Wireless

Sprint continues its commitment to offer the best value in wireless with Sprint One Up and Unlimited, My Way and My All-in plans. Sprint One Up features:

  • Unlimited talk, text and high speed data on smartphones guaranteed for the life of the line of service starting at $65 a month (excludes surcharges and taxes)
  • Annual upgrades on smartphones and tablets
  • 0% APR monthly installment payments for the device

Single Line Smartphone Comparisons

Sprint customers also will see significant monthly savings — up to $45 a month – compared to similar plans from AT&T and Verizon4.

4G LTE

Sprint continues to bring a better wireless experience to more customers across the country as it builds out its all-new 3G and 4G LTE network and is projected to provide LTE to 200 million people by the end of 2013. For the most up-to-date details on Sprint 4G LTE, visitwww.sprint.com/network. Customers can also check www.sprint.com/coverage for updated coverage maps.

Availability

Sprint One Up is available in Sprint company-owned stores to new and eligible existing customers on Sept. 20 (program currently not available in Florida and Washington, D.C.). Visitwww.sprint.com/oneup for more information.