T-Mobile's new tactic to lure Verizon customers

T-Mobile (TMUS) CEO John Legere, known for his bold and bellicose demeanor, is now setting his sights on Verizon (VZ).

Legere announced a new promotion on Monday offering all Verizon customers a free two-week T-Mobile trial. If the customer wants stay with T-Mobile after the 14 day period, T-Mobile will cover any outstanding payments or contract termination costs up to $650.

“Last week, I said we would hit right back at Verizon — I meant it,” Legere said in a statement. “With T-Mobile, you don’t have to settle for trickery, gimmicks and carrier BS the way you do with Verizon. I’m so confident in our kick-ass network experience that we’re footing the bill so Verizon customers can give T-Mobile a try.”

Verizon and AT&T (T) are the largest wireless carriers in the U.S., with Sprint (S) in third place. Legere claimed that T-Mobile leapfrogged Sprint for third largest wireless provider earlier this year, however Sprint's latest earnings report shows otherwise. Sprint reported 57.1 million subscribers, which places it slightly ahead of T-Mobile's 56.8 million customers.

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While Verizon and AT&T have larger networks, Yahoo Finance’s Aaron Task notes the two carriers could face serious competition from T-Mobile.

"There is huge price competition going on among the carriers and it's very good for consumers," he says. "If T-Mobile is willing to eat my contract I'm definitely going to give them consideration, whereas in the past I might not have."

Task adds that T-Mobile’s aggressive tactics are a good strategy.

"This is the T-Mobile brand and John Legere...he's a very brash guy. He crashes the parties of his competitors and he says outrageous things and it has definitely gotten people's attention. That is the culture of that company," he says. "They're also the underdog and psychologically, Americans love rooting for underdogs."