The deal requires existing Verizon and AT&T customers to bring in their current bills, and Sprint will set them up with similar plans at half the cost of the service portion of their current bills (i.e., data, text and calling). Customers will have to buy unsubsidized devices or rent them through Sprint's new leasing plans.
Getting ready to launch one of our most exciting promotions ever!! Especially designed for Verizon and att customers who love to save money - MarceloClaure (@marceloclaure) December 2, 2014
The upcoming promotion does not include competitor T-Mobile, which already offers discounted prices and holds a smaller market share than AT&T and Verizon. It is estimated that Verizon and AT&T control up to 70 percent of the mobile phone market in the United States.
Update: Sprint's press release on the promotion outlines the full terms of the deal and the process customers must follow to take advantage of it.
Article Link: Sprint Offering to Halve Wireless Bills for Customers Switching From AT&T or Verizon