Verizon Wireless to charge USD 30 as upgrade fee for new devices

Verizon Wireless is set to introduce a new fee for customers who want to upgrade to newer models on their network.

The company would charge USD 30 as an upgrade fee in addition to the cost of the new device.

This is going to hurt customers who are looking to upgrade their phones while still on contract with the company.

Market analysts believe that this is just one of the many steps Verizon would have to take to increase revenues in the highly competitive market which is driving down the profits.

This new charge would be applicable starting April 22.