Sprint’s CEO, Marcelo Claure, announced in an interview that the company will be abandoning their two-year contracts for smartphones by the end of this year, in favor of Easy Pay and leasing options.

T-Mobile was the first to make this switch, offering customers to pay for they devices on monthly payments, and then Verizon Wireless also ditched their two-year contracts. Sprint will be offering Sprint Easy Pay and Sprint Lease instead.

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With Easy Pay, customers will be able to get a new smartphone at full price and pay it on monthly payments for 24 months. A down payment is required, and you can take your phone with you after that.

If you choose Sprint Lease, you’ll be able to rent a phone for a monthly fee, and by the end of the lease you have to either return it or pay a fee to keep the device. Considering nobody really keeps a phone after getting a new one, this seems like a pretty good option.

What do you guys think of this change?