Sprint announced that it plans to abandon its two-year contract model in favor of allowing customers to lease their smartphones. Verizon made a similar announcement earlier this month, and T-Mobile dropped its contracts more than two years ago, while AT&T remains the only major carrier that subsidizes phone purchases. “Two-year contracts had been the norm for years, in which customers signed the agreement in exchange for a discounted price on a phone,” reports The Wall Street Journal. “Now, carriers primarily offer cheaper monthly plans without contracts, but require customers to pay full price for their devices, typically in monthly installments spread out over two years.”