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Edition: U.S. Article Comments (4) Save Email Print Reprints Most Popular Most Shared Fox says Time Warner Cable may drop Fox TV shows 18 Dec 2009 Exclusive: Pentagon delays new "bunker buster" bomb 18 Dec 2009 U.S.-led climate deal under threat in Copenhagen | Video 1:17am EST UPDATE 2-OneWest buys First Federal as 7 US banks fail 18 Dec 2009 GM to shut down Saab, talks with Spyker fail 18 Dec 2009 Fox says Time Warner Cable may drop Fox TV shows 18 Dec 2009 U.S.-led climate deal under threat in Copenhagen | Video 1:17am EST UPDATE 2-OneWest buys First Federal as 7 US banks fail 18 Dec 2009 "Nickel and Dimed" author sees lost middle class 18 Dec 2009 Ex-BoA executive said raising fund for bank deals 18 Dec 2009 Pictures Pictures of the year: Technology A look at the year's best science and technology photos. Slideshow Verizon Wireless says early termination fees fair John Poirier WASHINGTON Fri Dec 18, 2009 5:52pm EST WASHINGTON (Reuters) - Verizon Wireless on Friday defended its fee hikes on early cancellations of phone contracts, citing declining prices customers pay for handsets in a letter to regulators. Media Earlier this month the Federal Communications Commission launched an inquiry into why the company doubled fees to $350 for ending contracts linked to some smartphones, which are often offered to customers at a reduced or no cost if a contract is signed. The FCC inquiry is part of a broader consumer protection inquiry the agency launched in August into the disclosure of fees and charges associated with advertisements, point-of-sale and bundling. "This ETF (early termination fee) structure is fair and reasonable," Verizon Wireless said in a letter to the FCC. The company is a joint venture between Verizon Communications Inc and Vodafone Group Plc. The company said the overall cost for providing and supporting devices to customers at a low upfront price has increased substantially. However, it didn't provide any data to back up the claim. It said, for example, the loss from an early termination at the 12-month mark is more than double the remaining fee for a smartphone, which would be about $230. "Verizon Wireless still incurs a financial loss from early terminations, even with the $350 ETF," the company said. An FCC spokesperson said the agency is reviewing the letter. FEE NOT ONLY FOR WHOLESALE COST OF HANDSET Verizon Wireless added that the fee is not limited to the recovery of the wholesale cost of the device over the life of the contract. "The ETF partially compensates Verizon Wireless for all the costs and risks of providing service, which include advertising, commission, store costs, and network costs." Free Press, a public interest group, said the letter represents an admission by the company that it is imposing unfair penalty fees to deter consumers from switching carriers. "Verizon is blowing smoke at the FCC's attempts to protect consumers from their unfair billing practices," said Chris Riley, a Free Press policy counsel. "The bottom line is that (the) FCC needs to spur some real competition, which will lead to lower device prices and more choices." In its letter to Verizon Wireless, the FCC wanted to know why a customer had to pay $120 for ending a two-year contract after 23 months with an advanced handset. Like other wireless providers, Verizon Wireless pro-rates fees over time. The company said a fee for breaking a contract linked to a smart phone is $350 and it drops by $10 a month; therefore a $120 fee would remain after 23 months. A regular phone carries a $175 early termination fee which costs $10 less each month. A study by the Government Accountability Office shows early-termination fees as a major reason preventing wireless customers from switching carriers. That has drawn criticism from some lawmakers who say that with rapidly changing technology, consumers should not be chained to their wireless provider for years through exorbitant early termination fees. (Reporting by John Poirier; Editing by Richard Chang) Media Comments See All Comments (4) | Post Comment Dec 18, 2009 Verizon sent me an offer to add 100 free minutes to my then existing contract. I accepted and, unbeknownst to me, Verizon extended my contract by a year. That meant that I had to pay a ridiculous termination charge for no value given. I’ve since terminated both my contract an my two Verizon landlines. Put politely: Verizon abuses its oligopoly. Obelix Report As Abusive Dec 18, 2009 What a crock of S**T. Amazing how 90% of the phones that Verizon sells can be found in an unlocked version for less than $200 online with some less than $100. But of course, since the FCC has more of a responsibility to corporate lobbiests, nothing will be done. Just another example of a government entity appearing to do a service to the community while doing nothing at all. Xtlman Report As Abusive Dec 18, 2009 I think FCC should take action against all cell phone service providers by delinking the handset from the provider. It does not make sense to buy equipment from the provider and they manipulate all the charges due to the handset provision. Simple logic – do we buy TV sets from the cable provider or do we buy computers from internet providers? NO. Its simple as that and by doing so the customer benefits a fair deal from both equipment competition and service provider competition. Additionally the cost of these phones increases since the same phone manufacturer is providing the same equipment with minor changes to the model & model number or sometimes trying to sell a specific model with a specific provider due to their collaboration. When the equipment and the service provider are delinked it eliminates ETC on the whole and everyone would be just about happy that everything is being done on a fair basis. SevenStar Report As Abusive Dec 18, 2009 I dont have a problem with ETFs. You signed a contract and should read through all the provisions. loretomaka Report As Abusive See All Comments (4) Add a Comment More from Reuters U.S.-led climate deal under threat in Copenhagen COPENHAGEN (Reuters) - U.N. climate talks fell into crisis on Saturday after some developing nations angrily rejected a plan worked out by U.S. President Barack Obama and leaders of other major economies for fighting global warming. | Video Storm threatens U.S. retailers' last holiday push Senate races clock on health bill Afghan leader seen naming technocrat-heavy cabinet Pentagon delays new "bunker buster" bomb House prices rose 0.2 percent in 3rd quarter: survey » More Top News The food-stamp economy On the last day of every month, shoppers at Walmart load their carts with food and household items and wait for the midnight hour. Is this the new normal in America? Full Article Factbox: A look at food stamps in U.S. Focusing on food for the holidays A "lost" middle class? U.S. Let's make a deal The battered M&A sector will make a tepid recovery in the coming year and three hot sectors will lead the way, according to a Thomson Reuters analysis. Full Article JPMorgan tops ECM rankings Hungry for deals after a forced diet Fewer bankruptcies seen in 2010 Global Deals Review © Copyright 2009 Thomson Reuters Editorial Editions: Africa Arabic Argentina Brazil Canada China France Germany India Italy Japan Latin America Mexico Russia Spain United Kingdom United States Reuters Contact Us Advertise With Us Help Journalism Handbook Archive Site Index Video Index Analyst Research Mobile Newsletters RSS Podcasts Widgets Your View Labs Thomson Reuters Copyright Disclaimer Privacy Professional Products Professional Products Support Financial Products About Thomson Reuters Careers Online Products Acquisitions Monthly Buyouts.com Buyouts Europe: Buyouts Conferences: Venture Capital Journal ECVJ International Financing Review International Securitisation Report Project Finance International PEhub.com PE Week Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. 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