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Nokia Lumia 1020 Outdated by Christmas?

If I shelled out $300 for a new smartphone -- and maybe another $80 for Nokia's nifty add-on camera grip/battery pack -- I would be livid hearing about more advanced models coming very soon.

Nokia shares were losing 2.14% to $4.12 and Microsoft shares were down 0.28%% to $35.41 at 10:41 a.m. in New York.

Companies are constantly working to improve their current products. That's a good thing. It keeps the industry going. But, at some point, the buying public will push back. Something has to give. Apple takes a different approach, improving their iPhones every year or so not every month. That schedule seems to work very well for them.

T-Mobile (TMUS - Get Report) is taking the opposite approach to what has become never-ending consumer smartphone envy. For an additional $10/month, you can sign-up for T-Mobile's "Jump!" program. It allows T-Mobile subscribers to switch/upgrade their smartphone (if it's not damaged) twice a year.

T-Mobile's solution looks like a win-win situation for all sides -- keeping innovation advancing at a pace as well as offering a way for consumers to take advantage of it all without going broke.

--Written by Gary Krakow in New York.

>To submit a news tip, send an email to: tips@thestreet.com.

Gary Krakow is TheStreet's senior technology correspondent.
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