Sprint offers $200 trade-in credit, $350 to cover ETFs for switching T-Mobile customers

To step up its efforts to fend off rising competition from T-Mobile (NYSE:TMUS), Sprint (NYSE: S) is offering to guarantee all T-Mobile customers a minimum of $200 in instant trade-in value when they go to participating Sprint stores and trade in their current working T-Mobile smartphone and switch to Sprint.

The offer is available for only one eligible T-Mobile wireless device per line, in-store only. Sprint said that the offer, available through April 9, can also be combined with a contract buyout offer, where eligible T-Mobile customers can get up to $350 per line via a prepaid or reward card to cover their outstanding installment billing balance on their current device or Early Termination Fees. The switching T-Mobile customers would then need to buy or lease a new Sprint phone.

Sprint also announced today Compass Intelligence, a market analytics and consulting firm, recognized the carrier's phone buyback and trade-in program as the best among all major U.S. carriers for the fourth straight year.

Last year, Sprint said it put more than $250 million back in customers' pockets with its trade-in program, Sprint Buyback. Sprint argues that its trade-in program is better than competitors' programs in many ways, such as providing an instant in-store credit that can be used toward a new phone purchase, accessories or as an account credit. Sprint also lets customers trade in up to three phones per line at any time and five in a calendar year. By comparison, T-Mobile only allows one phone trade-in per line, and that transaction must happen when customers are purchasing a new device.

In 2014, Sprint said bought back more than 3 million phones, and that of those phones collected, more than 80 percent were certified, pre-owned devices. Sprint's relationship with wireless device distributor Brightstar Corp. has aided its efforts to gain share in the phone trade-in and pre-owned phone market. Sprint and Brightstar Corp. are both majority-owned by SoftBank. "Our industry-leading program gives customers a clear and immediate financial incentive to turn in their old phone," said Chad Lander, director of Sprint's buyback and phone trade-in program. "We're able to target customers, like those from T-Mobile, offset any termination fees, and provide a far superior offering."

The new offer from Sprint comes as T-Mobile works to surpass Sprint in terms of total subscribers. Based on preliminary announcements of fourth-quarter results, T-Mobile ended 2014 with 55.018 million customers and Sprint ended the year with around 56 million. T-Mobile CEO John Legere has vowed that in 2015 T-Mobile will pass Sprint.

For more:
- see this release

Related Articles:
Sprint's Claure: We beat T-Mobile in Q4 prepaid net adds
T-Mobile's Sievert: We are taking significant share away from AT&T, Verizon
T-Mobile scores 2.1M total new customers in Q4
T-Mobile's Legere vows to go toe-to-toe with Verizon's network, overtake Sprint in 2015

Suggested Articles

The White House announced plans to make spectrum between 3.45-3.55 GHz available for commercial 5G deployments.

Qualcomm has warned U.S. restrictions only stand to hand billions of dollars to its foreign competitors, according to the Wall Street Journal.

The regional operator said it plans to test a fixed wireless service using mmWave spectrum in 2021.