That's terrible! I'm sure you'd like a nice crisp reception when speaking to friends and family member. Have you turn down the volume on the call to see if effects the echo that you receive? In addition, please remove and reinsert the SIM card to rule out any network issues.
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I'v had this happen on my Razr's as Well and on previous phones in the past you might try a BlueTooth or Wired headset that is what i use and it seem to help a little and you don't have to have the Volume up as Loud..