Following Verizon, T-Mobile and AT&T’s lead, Sprint has today announced its own annual upgrade plan, allowing subscribers to upgrade their handsets every 12 months, so they too can keep up to date with the latest and greatest smartphones on the market.

“One Up” costs $65 per month, and in return customers get unlimited calls, texts and data, providing they agree to pay 24 monthly equal instalments to cover the cost of the new smartphone when taking out the plan.

After a year, customers will have the option to return the device, providing it’s in good working order, and restart the process with a brand new phone all over again.

Currently, Sprint is offering the “One Up” plan with no down payment for a “limited time.” Unfortunately, the U.S. carrier failed to provide a specific cut off date for this offer, so if you like the sound of the tariff and want to upgrade, hurry, as we do not know how long it will last.

“One Up” launches today for both new and existing customers who are eligible for an upgrade. However, it’s not available in Florida or Washington, D.C. at present.

• SourceSprint