AT&T (T) Will End Two-Year Wireless Contracts in Early 2016

AT&T (NYSE: T) is going to end the idea of two-year contracts starting in January.

Engadget said that new and existing customers will only be able to get a new handset by paying the full price upfront, or in installments over time.

The switch going to take effect on January 8th.

AT&T's move covers all phones, including flip phones and feature phones.

One spokesperson for AT&T commented to The Verge today: With $0 down for well-qualified customers, the ability to upgrade early and down payment options available with even lower monthly installments, our customers are overwhelmingly choosing AT&T Next. Starting January 8, AT&T Next will be the primary way to get a new smartphone at AT&T. This does not apply to business customers under a qualified wireless service agreement.

Shares of AT&T are modestly lower on today's light-volume session.

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