You choose, we deliver
If you are interested in this story, you might be interested in others from The Journal Gazette. Go to www.journalgazette.net/newsletter and pick the subjects you care most about. We'll deliver your customized daily news report at 3 a.m. Fort Wayne time, right to your email.

Business

  • Forbes listgives city No. 11 rank
    Forbes has ranked Fort Wayne No. 11 on its list of Opportunity Cities. The 19-city list, published Thursday, put Columbus, Ohio, at the top.
  • Alibaba stock soars 40% in massive IPO
    NEW YORK – Alibaba debuted as a publicly traded company Friday and swiftly climbed more than 40 percent in a mammoth IPO that offered eager investors seemingly unlimited potential for growth and a way to tap into the burgeoning Chinese
  • China levies record fine
    BEIJING – Drug giant Glaxo­SmithKline was fined $492 million Friday for bribing doctors in China in the biggest such penalty ever imposed by a Chinese court.
Advertisement

Verizon Wireless to charge $30 for phone upgrades

Verizon Wireless, the country’s largest cellphone company, says it will start charging $30 every time a subscriber wants to upgrade to a new phone.

Other phone companies have introduced similar fees. Competitor AT&T Inc. raised its fee from $18 to $36 this year.

Verizon said it will start charging the fee on April 22, and it will help fund customer support and online educational tools.

Verizon is introducing the fee as cellphone companies are seeing their profits cut by the cost of subsidizing smartphones, especially iPhones.

Smartphones generally cost hundreds of dollars more than they sell for in stores. Wireless carriers count on making the money back through service fees over time, but those fees aren’t growing as fast as smartphone sales.

Advertisement