The iPhone 5 Goes Pre-Paid

Leap Wireless’ (NASDAQ:LEAP) Cricket brand will be the first pre-paid carrier to offer Apple’s (NASDAQ:AAPL) new iPhone 5, starting September 28. Leap, which started offering the iPhone 4 and iPhone 4S in June, hasn’t announced pricing details yet. However, it is expected to price the device much higher than the $200 subsidized on-contract retail price announced by Apple.

Don’t Miss: INTRODUCING: The iPhone 5.

The 16GB iPhone 4S is available on Cricket for $500, while the 8 GB iPhone 4 is offered for $400. Cricket’s $55 per month plan includes talk, text, and 2.3 gigabytes of data. Its voice and mobile data services are available over both 4G LTE and 3G CDMA.

Leap, the owner of the seventh largest wireless telecommunications network in the U.S., has a total of 6.2 million subscribers. The operator, of course, will join post-paid providers Verizon Wireless (NYSE:VZ), AT&T (NYSE:T), and Sprint (NYSE:S) in competing for potential iPhone customers.

The iPhone 5, unveiled on Wednesday, flaunts a new four-inch display, 4G LTE compatibility, and a smaller dock connector called Lightning.

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