Cricket Wireless is Getting Contract-Free iPhones

Cricket customers will have to pay nearly full price for the device, shelling out $500 for the 16 gigabyte iPhone 4S or $400 for the two-year-old iPhone 4.

That compares to a $200 upfront cost on Verizon, Sprint and AT&T for the 16 GB iPhone 4S and $100 for the iPhone 4.

Unlike those subsidized phones, which require two-year contracts, Cricket’s iPhone will be available contract-free for $55 a month, with unlimited talk and text. Cricket also offers “unlimited data,” but the company will start slowing speeds down to a crawl after a user reaches 2.3 GB in a billing cycle. CNNMoney »

A contract-free iPhone is nothing to be sniffed at. The cost of the monthly plan with Cricket outweighs the upfront costs—making this a competitive deal for consumers.

One of my closest friends works for Cricket. He’s super excited; as am I, because this offers great potential for me when me and my wife’s AT&T iPhone contracts expire at about this time next year.

Thanks to Daring Fireball for sharing the story.