Starting April 17, Verizon will end one-year contracts for new members.

Two-year contracts, as well as month-to-month plans, will still be offered. A Verizon spokeswoman told Computerworld that the company's decision to nix the one -year plans was in response to its lack of popularity with subscribers.

The greater majority of customers sign up for a two-year contract and take advantage of the discounted promotion price, she said, noting that subscribers already on one-year plans would not be affected -- at least not until current contracts expire.

For many customers, one-year contracts offer greater flexibility during a time where companies like Apple upgrade their devices on a yearly basis.  Service companies like Verizon typically offer steeper discounts on new phones purchased on two-year contracts, which may explain why single-year deals are less popular in comparison.

Sprint and T-Mobile do not currently offer one-year contracts. AT&T offers one-year contracts, but doesn't promote them heavily.