The announcement of the new iPhone in Apple's latest press release in San Francisco has started turning the wheels of industry. Apple itself has announced that it will start an upgrade program that will allow clients to purchase a new device and pay in an installment plan. Meanwhile, wireless carriers are scrambling to put out better deals to get a piece of the action as well.

Apple is offering an installment plan that will allow its customers to upgrade after a 12-month period. This is, of course, an enticing way of letting your customers purchase the new iPhone 6s and maybe upgrade down the road with the new iPhone 7. Depending on the model you're taking, the price range is at $32.45 to $47.45 per month. One of the advantages of this deal is you also get the AppleCare+ for free that would otherwise cost an additional $129 paid in a span of two years.

T-Mobile also recently announced a deal that will allow customers to lease the new iPhone for a fraction of what Apple is offering. T-Mobile is offering $32.41 monthly starting fee for the entry level iPhone 6s which the customer can use with any carrier of their choice. This deal also includes AppleCare+ that offerst tech support and limited insurance options against accidental damage. It's roughly equivalent to an unsubsidized cost of an iPhone over a 24-month period.

The good thing about this T-Mobile deal is that after 18 months, they can choose to keep the same phone for a final payment of $164 or exchange it for an upgrade. FT reports that the British carrier, O2, is looking at a similar deal that offers free insurance with the added bonus of a free upgrade at the 12 month period mark. The prices for the said deal will be released on Friday. We can expect other carriers to follow this trend and it would only mean better options for the consumer.