AT&T early termination fee rising to $325
Are you tired of getting too many dropped calls on your iPhone? Well, you better just suck it up because soon, if you wanna cancel your wireless contract it's gonna set you back hundreds of dollars.
AT&T has announced that, as of June 1, smartphone customers who want to get out of their contract early will have to pay an exorbitant $325.
If that sounds crazy, well, it is. It's almost double what the mobile service provider currently charges - $175. If it doesn't sound crazy, well, you probably have Verizon, which also recently hiked its early cancellation fee from $175...to $350.
The fee increase comes suspiciously close to the end of AT&T exclusivity deal with the iPhone, which is of course the best-selling smartphone on AT&T, but an AT&T rep reportedly told news site AllThingsDigital that the new fee has "nothing to do with the iPhone or any other device."
The mobile phone industry is not struggling at the moment, so the need to increase fees does not seem readily obvious. Perhaps it is to offset the cost that all carriers are going through to set up new 4G or LTE data networks.