Can I sell a smartphone right off the bat after I renew my contract?

branD0Nli

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So I can get a smartphone for cheaper when I renew my contract because they'd supposedly earn the money back from your data charges. Can i get, say, a blackberry and then sell it brand new un-opened box for the full price, cancel the data plan, and profit about $300 and use my old phone? Is this legal?
 
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