The fine print says:
Requires 20-month 0% APR installment agreement & qualifying credit. Sales tax due at sale. Qualified wireless service plan req. If you cancel wireless service, remaining device balance is due. Qualified devices only. Limit two finance devices per wireless account. Available at select locations only. If device is returned, restocking fee up to $35 for smartphones or 10% of tablet sales price may apply. Upgrade after 1 yr: Req. min. 12 monthly installment payments & acct. in good standing plus trade-in of current financed device in good & functional condition & purchase of new qualified device/wireless service plan. After upgrade, remaining unbilled installment payments are waived. Terms subject to change. Visit a store or att.com/next to learn more.
The catch: you have to pay full price for the device (if the device costs $500, that’s $25 per month in addition to your wireless contract). It also doesn’t appear that the iPhone is on this plan (at least I don’t see an iPhone on their landing page.
I bet this is a way to start weaning people off the discount-with-a-contract way of doing business. You think?