Following a leak last weekend that prematurely outed a new Sprint "One Up" early upgrade program, the new plan is now officially official. Details of the program are now live on Sprint's website, and while One Up is only available at select physical Sprint stores right now, the big yellow carrier promises that it'll be offered online and through other channels soon.

So how does it work? Buyers can pick up a new smartphone or tablet with no down payment and spread the cost of the device out over a 24 monthly installments. After 12 consecutive payments are made, customers will have the opportunity to trade their phone or tablet in and upgrade to a new unit. Any subscribers enrolled in One Up will receive $15 discount on Unlimited, My Way and My All-In plans, but Sprint notes that that discount will cease once a device is paid in full. The discount doesn't apply to tablets.

As far as eligibility goes, new customers with qualifying credit can sign up for Sprint One Up. Existing customers are also eligible so long as their account is in good standing and can meet Sprint's credit criteria. Additionally, current Sprint customers must have had at least 12 months pass since their last upgrade before enrolling in One Up.

We've already seen T-Mobile, AT&T and Verizon launch early upgrade programs of their own in recent months, and so it's not a total surprise to Sprint launching its own offering. It is good to see Sprint introducing One Up for its customers that just can't wait out a full two-year contract for new hardware, though, and the $15 per month discount on Unlimited, My Way and My All-In is a nice perk of the program. Now that it's official, will any of you Sprint folk be enrolling in One Up?

Via Sprint