VIDEO: Nydia Han's latest Consumer Wrap report
That means, those customers who end their cell phone contracts early will have to pay a whopping $350!Verizon's higher termination fee will affect customers who have a one or two year contract for a smart phone or other advanced device.
The $350 termination fee will go down by $10 for each month of service the customer's already completed.
Verizon says it'll help ease its pain of subsidizing the cost of those devices for its customers.
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