Assuming you are talking about Verizon Wireless it stands for "New Every 2" which is an extra discount towards a new phone once you have completed 20 months of a 2 year contract. Depending on the cost of your voice plan you will receive $50 or $100 off the 2 year price of a new phone (until the new NE2 program goes into effect then it will be $35 and $50).
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