There is no question that the HTC One is a great phone according to reviews, including our own by Matt Miller. HTC scored a coup by getting three major US carriers to carry the HTC One. While the other two carriers have detailed cost and availability, T-Mobile just announced its pricing for the phone and it's a doozy.
The pink carrier obviously wants to reduce the initial out-of-pocket cost for buyers and will only require $99 down to purchase the HTC One. The key word in that purchase contract is "down", as it's only the beginning. T-Mobile will also require a 24 month installment plan that will run an additional $20 per month for "well-qualified T-Mobile customers 0 percent annual percentage rate on approved credit".
That puts the total cost to HTC One buyers at a whopping $579, while still requiring a two-year commitment. T-Mobile has perfected the scheme of charging no-contract phone prices without omitting the contract. Pretty clever.
Update, 11.05am PT: To be clear, the two-year contract is a purchase contract for the phone. T-Mobile does not require a contract for phone service. You can take the phone to another carrier (if that carrier will let you) at any time. You do have to make phone payments to T-Mobile for the two years of the purchase contract, or pay the entire $579 early to unlock the phone.