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Verizon's Edge device financing program launches August 25th, allows new devices every six months

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Motorola Droid RAZR HD / RAZR Maxx HD
Motorola Droid RAZR HD / RAZR Maxx HD

During a call for investors today, Verizon CFO Fran Shammo confirmed that the carrier is planning to launch its Edge device financing program, though he declined to provide any details on the service. Edge has been rumored to be Verizon's answer to T-Mobile's Jump and AT&T's Next programs, which let customers get new phones more often than traditionally possible. Shammo said that Verizon customers are interested in financing programs, and that the carrier is weighing its options in this area. Unfortunately, he didn't give any further details on what the Edge program entails, though he did say that more information would be announced in the near future.

Update: And just like that, Verizon has officially announced its Edge early upgrade program. Set to launch August 25th for subscribers on Share Everything plans, Verizon describes Edge as "a flexible equipment payment plan that spreads the retail price of a phone over 24 months." Customers can upgrade to a new device after six months so long as 50 percent of their current handset is already paid off. Verizon claims there will be "no long-term service contracts, finance charges or upgrade fees" associated with Verizon Edge. Unfortunately, at first glance, the offering from America's largest carrier looks just as bad for consumers as AT&T's Next.