The company announced that starting June 1st, early termination of your smartphone contract will cost you $325. That is up from the previous cost of $175.
If there is any silver lining to take out of this, the cost of early termination will decline $10 with each month you continue to stick to the contract, and the cost of terminating a non-smartphone contract declined from $175 to $150.
This announcement comes on the heels of Verizon raising its early termination fee to similar levels last year, raising questions that the industry is trying to choke off competition. After all, with the amount that you would have to fork out to change providers, consumers will not quickly shift from one wireless provider to the next.