john legere
T-Mobile CEO John Legere. The company has just announced an expansion of its phone rental scheme, as the mobile industry as a whole moves away from the standard two-year, subsidized contract. Reuters/Steve Marcus

Obsessed with the latest iPhone? T-Mobile has a wireless plan for you. The wireless carrier, known for its disruptive sales pitches, today announced a new scheme where customers can rent their phone and request upgrades as frequently as three times a year.

The company detailed its new "Jump! On Demand" service, which will allow users to upgrade phones following a checkup to ensure the phone is in working order. Phone payments are made for 18 months, at the end of which customers can hand in their phone, pick up a new one and start a new plan. Alternatively, they can keep their phone with a final payment.

The company is offering a 16GB iPhone 6 for $15 a month on the new plan as part of a special promotion. Phones outside of the promotion include the $32.49-a-month Galaxy S6 Edge. The new service is an expansion of T-Mobile's "Jump" scheme, which was $10 more and had fewer upgrade options but also included device insurance. Device insurance in the on-demand scheme is available for $8.

The news reflects a shift in the American mobile market: AT&T Mobility CEO Ralph De La Vega told Re/code that the two-year contract will slowly go away. A report by 9to5Mac said that Verizon's two-year contracts may fold as soon as the end of the summer, and CNN Money reports that a third of Sprint's smartphone sales already consist of rentals.