T-Mo's new unlimited data plans make paying for your phone clearer and better for you as a customer. Instead of forcing you to make phone payments after you've paid off the subsidy, you're just paying for what's in your hand.
Basically, your monthly phone payments will now be called an "Equipment Installment Plan," which is exactly what it sounds like; you're paying for your handset in installments and only for a set period of time. Previously, your standard two-year contract had you paying for the subsidy for the full 24 months of your contract, even if the phone is already paid off. Under T-Mobile's plan, you'll pay off your phone in 20 months and then that's that. You won't be paying a fee for the last four months of your contract just to hold your phone in your hand. Clearer, simpler, and better for you. Thanks!
The new plans will go into effect on the 24th, and T-Mobile will also continue to offer their "Even More" plans, now branded as "Classic," as well as their non-contract options. Everyone else should take note. [T-Mobile via Phone Scoop]