Verizon gets rid of 1-year contracts

If you’re the type of person who likes to update their mobile device every year just to keep up with technology, it looks like your next phone probably won’t on Verizon. It has just been confirmed that Big Red will be eliminating their 1-year contract option for their subsidized devices starting April 17. Verizon’s reasons for the removal? “Greater majority of customers sign up for a two-year contract.” While that may be true, eliminating 1-year contracts might tick a number of people off. Normally people opt for a 1-year contract to get a slightly subsidized price on their phones so if they decide to get a new device it would only be a 1 year wait. However with the 2-year contract it looks like some customers will be bound longer than they’d like, and hopping over to another carrier for a new phone isn’t going to be so easy anymore (unless of course, money isn’t an issue). Do you agree with Verizon’s move to cut out 1-year contracts?