I Purchased a iPhone 5 16GB black a couple of weeks ago. Out of the box the phone was defective. I was told by Verizon that because it was within 14 days they would replace the phone. When I tried to replace the phone they told me they had none in stock in their warehouse and there were none at the Apple stores or Verizon stores in the geographical area. They refused to replace it with a 32GB unless I paid the difference ($100). So they have a policy in place to replace the phone if it's defective, however if they don't have a replacement it's your tough luck. Nice policy Verizon. I was forced to pay an additional $100 to get a phone immediately. Anyone else have an experience like this?
its under warrany by Apple so they should replace free of charge but you're better off going to Apple Store. If you try to get a replacement at VZ, you will get a certifiied like new phone..not a new phone. I had to replace my iPhone (power button wouldnt work). I returned my old iPhone to USPS using the label and box from Verizon. Tracking shows that phone was returned but it got lost from post office to verizon warehouse. i'm still stuck with the bill (charged for new phone even though its not new)...been following up the customer service for a month...still ongoing. Bottom line: I returned the phone!!!