Sprint S announced Thursday that it will slash the costs of its iPhone Forever plan to just $1 per month for a 16 GB iPhone 6S and $5 per month for the 6S Plus model.
Sprint's iPhone Forever deal gives customers the option to lease iPhones from the company, allowing them to trade-in for the newer versions at a reduced cost. In this case, the customer would need to trade-in an iPhone 6 to qualify for the special price. The regular price for a 22-month iPhone Forever contract is $22 per month.
This news comes in the wake of T-Mobile TMUS cutting the price of its own upgrade deal. T-Mobile's "Jump on Demand" plan was reduced from $25 a month to just $5 a month for an iPhone 6S on Tuesday. Unlike Sprint's iPhone-based package, the Jump on Demand deal allows subscribers to upgrade as many as three times per year, whether they want an iPhone or a different brand of smartphone.
The price competition is heating up throught the wireless carrier market, as the industry leaders have ditched the typical two-year plan model. Switching from one carrier to another is easier than ever as well.