Sprint to join the competition, ditch two-year contracts as of today

While not officially confirmed, word has leaked that Sprint will do away with two-year contract options for new subscribers as of today, January 8th. Sprint will be the last of the major four carriers to do away with the option for new customers, but it will continue to allow current customers on contract plans to go that route if they so choose.

New subscribers coming to Sprint will be offered the ability to either lease or purchase a smartphone at full price, pairing it with monthly rates starting at $20 per month and an unlimited option for $70.

The change is the result of a shakeup that started when T-Mobile first unveiled its Un-carrier program, which bucked industry standard two-year contracts in favor of more affordable rates and unsubsidized device pricing. Its competitors have since followed suit, with most forgoing the contract option even for existing customers (AT&T will end two-year contracts entirely this month).