Verizon to double its cancellation fees

Nov 4th, 2009 - Washington Post

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James Gerace, a spokesman for Verizon Wireless, the nation's largest cell phone service, said the fees are for subscribers in one- and two-year contracts on an "advanced device" and that those fees will be pro-rated $10 a month. That means, if you've made it halfway through your two-year contract, the $350 penalty will be reduced $120 to $230.

Gerace said the company decided to raise fees because its highest-end phones and small wireless laptops are getting more expensive. The firm subsidizes the cost of its most tricked-out phones to make their prices more appealing to consumers. Verizon is set to release the Droid this Friday for $199 with a two-year contract. The phone is meant to take on Apple's iPhone, which runs exclusively on AT&T.

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