Verizon Communications is increasing its subsidies for Apple’s newly launched iPhone 13 in hopes of attracting more subscribers to the U.S. wireless carrier.
Verizon is now offering redemption bonuses of up to $1,000, similar to rival AT&T Inc, up from $700 previously, with the largest subsidies for customers trading in the iPhone 11 and iPhone 12 models.
Apple’s new iPhones start at $699, however, wireless carriers use huge subsidies as a tool to keep existing customers and gain new ones.
Apple phones will also have custom 5G antennas and radio components for faster speeds to boost 5G connectivity, a key race among telecom companies in the US.
The iPhone 13 boasts an improved display, longer battery life and a Cinematic mode that automatically changes focus while recording videos. It also comes with a new A15 Bionic chip that allows functions such as automatic translation of text.
For more information, view the original story from Reuters.