T-Mobile Announces New 'Jump' Phone Upgrade Program [VIDEO]

At an event in Manhattan yesterday T-Mobile announced a new phone program called "Jump."

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The new program by T-Mobile allows customers to upgrade their phones at regular intervals.

With Jump, customers will pay the same subsidized amount that a new customer pays, without the need to wait to qualify for an upgrade. Jump requires T-Mobile customers to pay a $10 monthly fee for the service and trade-in old devices, but it offers up to two phone upgrades per year after a six month waiting period.

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T-Mobile CEO, John Legere, told AllThingsD about the new program:

"This is one of those things that annoys customers so much," CEO John Legere said in an interview ahead of a New York press event. Legere said that the company wanted to address this issue when it first did away with two-year contracts back in March, but needed a little more time to work out the details."

This new program offered by T-Mobile changes their policy significantly and places the phone company apart from all other carriers. Which often times requires a customer's contract to expire before upgrade pricing on a new device is available.

At today's event, T-Mobile also announced that it plans to create a new family plan for customers without enough credit to quality for traditional phone contracts and plans to expand its LTE network in the near future.

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T-Mobile has released a few ads for the new promotion with the slogan "Upgrade when you want, not when you're told." Check it out below.