Verizon and T-Mobile want to give you a free phone — with a catch

It’s a good year for old, crappy phones. The dusty old phone in your desk drawer running Android frozen-dessert-something-or-other — the one that might have a cracked screen — saw its stock go up recently with two generous trade-in promotions. T-Mobile and Verizon are both offering to take your old, damaged phone off your hands and replace it with a shiny new 5G model.
There are a couple of reasons for this generosity. Verizon, in particular, has written some big checks to pay for new C-band frequencies — highly desirable spectrum for 5G that offers good range and speed. The company has reassured its shareholders that the hefty expenditure will help grow its customer base and increase the amount of money it makes on existing accounts. It told investors at its March analyst event that “with C-band included, we think step-ups to premium [plans] will only accelerate.” So it’s unsurprising that the cracked phone deal requires a commitment to a “select unlimited plan.”

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