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One thing that has always bothered me as a consumer is the "virtual handcuffs" that are forced upon almost any wireless customer in the U.S. Instead of pricing hardware at levels that make sense, companies give the product away for free and wrap customers into long-term contracts that guarantee a certain level of profit. Call it the American consumer's willingness to do anything to see the word "free" on any product or service.

But then, those same wireless companies charge a cancellation fee if you leave, whether it be right after you sign a contract or 23 months into the two-year contract. That's completely bogus, and until recently, it was the order of the day. No more -- many wireless companies are changing tunes about this, giving lower cancellation fees to longer-term customers. Verizon, a division of Verizon Communications (NYSE: VZ) did this first, and now competitor Sprint Nextel Corp. (NYSE: S) is joining the fray.

Starting today, the nation's third-largest wireless carrier will allow customers to change calling plans without re-signing another two-year contract, and will also give customers a prorated cancellation fee based on how many months they have left on their contract when the cancellation is requested. This is good practice, and with all the major wireless carriers now joining in, after years and years of being indentured servants, customers are actually being treated like, well, customers. Imagine that.

Sprint follows Verizon in trimming cancellation fees originally appeared on BloggingStocks on Mon, 12 Nov 2007 15:39:00 EST. Please see our terms for use of feeds.

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