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Verizon sweetens subsidies on iPhones to match competition By Reuters

by Mike Robinson

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© Reuters. FILE PHOTO – A Verizon store at Superior, Colorado (USA), July 27, 2017. REUTERS/Rick Wilking/File Photo

(Reuters) – Verizon Communications (NYSE:) said on Friday it is increasing its subsidies on offer for Apple Inc (NASDAQ:)’s newly launched iPhone 13, in a bid to attract more customers to the U.S. carrier’s network.

Verizon said it would now offer trade-in subsidies of up to $1000, matching rival AT&T Inc (NYSE:), from $700 previously. Customers who return the iPhone 11 or 12 models will receive the largest subsidies.

Apple’s updated range of iPhones will be available at a constant price. But carriers offer aggressive subsidies in order to retain existing customers as well as to draw new ones.

These phones will be equipped with 5G radio components and custom antennas for higher speeds. As telecom companies in America race to improve their 5G networks, this push toward 5G connectivity is a welcome development.

iPhone 13 starts at $699 and promises a better display and longer battery life. It also includes a Cinematic mode that automatically changes focus when taking video. This new A15 Bionic chip allows for features such as automatic translation of text. All models will become available on September 24, 2010.

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