Earlier this year, we saw Verizon make a number of policy changes including the end of New Every Two and an adjustment of their rebate strategy. Big Red doesn't appear to be stopping there, though, as a document sent to Gadget U shows that Verizon may be planning to stop offering one-year contracts beginning April 17th. Just why would they do such a thing? According to the doc, not very many people opt for a one-year contract, and VZW believes that offering only month-to-month and two-year contracts will streamline the buying process and cause less confusion for customers. If you're currently on a one-year agreement, you will be able to finish the contract up. Once it runs out, though, you'll either have to go month-to-month or sign away two years of your mobile life.
Although most of the recent changes that Verizon has made to its policies weren't terribly well-received, this latest one may ruffle the most feathers. Although Big Red claims that not enough customers took advantage of the one-year contract to justify keeping it around, I'm sure that there are more than a few of you out there than did sign up for the single-year option so that you could upgrade to a new phone sooner but still get a subsidized price on a device. We'll keep a close eye on this and let you know if and when Verizon makes it official. If you're one of the folks that has signed up for a one-year contract in the past, let us know!
UPDATE: Our friends at Android Central were just given the same info, as you can see below. This one's looking awfully legit, folks.
UPDATE 2: Verizon has just confirmed that, yes, they are eliminating one-year contracts on Sunday, April 17th.
Via VZBuzz, Droid-Life, Gadget U, Android Central, PhoneScoop
