T-mobile To Do Away With 1 Year Contracts??

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I’ve been trying to nail down this rumor for a few days now, but it seems as though enough sources are confirming that its time to run with the story. T-mobile, apparently hit hard by both economic downturn and some less than impressive Q3 and Q4 numbers is going to do away with the 1 year contract option. Looking to do away with rising churn, T-mobile is going to solely focus on the 2 year contract option. While most of you won’t find this disconcerting, those of you like myself who find themselves changing phones as often as underwear will be in no uncertain terms, pretty disappointed by this change. Generally speaking, the wireless industry focuses on 2 year contracts (surprise, surprise!) because thats the hook with a subsidy of the device but T-mobile has been one of the last strongholds for 1 year contracts. 

Further details on this development can be found at this link