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Sprint halves rate plans for AT&T and Verizon defectors

The carrier gets aggressive with an offer to slash monthly data prices for new customers switching from Sprint's biggest rivals.

Struggling Sprint has a fresh plan up its sleeve to attract new customers in the roiling war waged over subscribers.

The carrier is now vowing to slash monthly payments in half for customers who leave Verizon and AT&T for Sprint's wireless service.

Friday kicks off the Cut Your Bill in Half event, which will match new customers' data from their old carrier for half their current costs.

To participate, cost-conscious account holders need to first upload their monthly bill to Sprint's site before going to a retail store to buy a new Sprint phone and get paired with a matching plan. The half-off offer is good for as long as you remain on the Sprint plan.

If you're interested, you won't have to factor in any early termination fees, either. The carrier will pay up to $350 per line -- in the form of a Visa prepaid card -- for AT&T and Verizon bailouts.