AT&T (NYSE:T) announced a new program today called AT&T Next, which allows new and existing eligible customers to purchase tablets and smartphones through a monthly installment plan – without a downpayment. Customers using the AT&T Next program can also upgrade their device once a year without an activation fee, upgrade fee, financing fee, or down payment.

Ralph de la Vega, president and chief executive officer of AT&T Mobility said in a press release: "With AT&T Next, customers can get the newest smartphone or tablet every year with no down payment. That's hard to beat, and it's an incredible value for customers who want the latest and greatest every year."

The company said that after 12 payments, customers can trade in their device, and upgrade to a new device, or continue paying for their current device for a total of 20 months.   

The installment plan payments are interest free and will be between $15 to $50, depending on the device. AT&T said that the new program will launch nationwide on July 26.

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