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Verizon doubles early termination fee

November 5, 2009 12:19:25 AM PST
If you're a Verizon Wireless customer, you may think twice about canceling your service early. The wireless phone company is doubling the early termination fee on some of its cell phones.Verizon says it will charge $350 to customers who break their contract for what the company calls "advanced devices" such as smartphones.

The change goes into effect November 15.

Verizon made the announcement just a couple days before releasing the much-anticipated Droid smartphone. It is expected to rival the highly popular Apple iPhone.