Verizon Wireless (NYSE: VZ) launched a new plan for individual subscribers that offers unlimited voice, texting and 2 GB of data for $60 per month. The new plan is $30 per month cheaper than a comparable offering on Verizon's More Everything shared data plans.
The new pricing went into effect over the weekend. The $60 plan drops down to $50 per month when customers choose Verizon's Edge handset upgrade program, in which customers pay off their phones in monthly installments and get to upgrade early. Data overage charges are $15 per GB.
"We always want to put offers in the market we believe our customers will like, and this single line plan is no different," Verizon spokeswoman Debi Lewis told FierceWireless.
Under Verizon's More Everything plans, customers pay a $40 per month smartphone access charge and then $50 for unlimited voice, texting and 2 GB of data, bringing the total cost to $90. The carrier's More Everything plans also include features like international messaging and 25 GB of cloud storage that the $60 individual plan does not.
Verizon's move essentially makes its previous "loyalty" plan available to all subscribers. Prior to the company's announcement today, Verizon had offered unlimited talking and texting and 2 GB of data for $60 as a loyalty plan to customers in good standing in an attempt to ensure they remained with the carrier. Verizon previously offered the plan to specific customers, especially those disgruntled with their service or who told Verizon they were thinking of dropping their service. Verizon only offered the plan to customers who had a long-term relationship with the carrier, had not missed payments and who agreed to some kind of service contract extension.
Verizon's offer undercuts AT&T Mobility's (NYSE: T) prices for similar service. For individual customers, AT&T offers a plan for $65 per month with unlimited voice, texting and 2 GB of data. However, that plan requires customers to finance their device through AT&T's Next handset upgrade plan, bring their own phone or buy their phone at full cost.
Under Sprint's (NYSE: S) Framily plan, individual customers can get unlimited voice, texting and 1 GB of data for $55 per month, though customers' costs go down as more members are added to the Framily circle. Customers can also get 3 GB of data for $10 more per line.
T-Mobile US (NYSE:TMUS) offers its base Simple Choice plan with unlimited voice, texting and 1 GB of LTE data before throttling for $50 per month. The carrier's $60 per month plan offers unlimited voice, texting and 3 GB of LTE data before throttling. Those prices do not include the cost of a phone.
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