Verizon to Charge $30 for Phone Upgrades

By Scott Sarvay

April 12, 2012 Updated Apr 12, 2012 at 12:17 PM EDT

UNDATED (Indiana’s NewsCenter) - It will soon cost you more to upgrade your phone if you are a Verizon customer.

Verizon Wireless announced that they will be charging $30 every time a customer wants to upgrade to a new phone.

The country's largest cellphone company is introducing the fee as more companies are seeing their profits cut by the cost of subsidizing smartphones.

Smartphones typically cost more than what they sell for in stores.

The new fees go into effect on April 22nd.

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