Verizon Set To Announce Bigger Data Plan, With Bigger Price Tag To Match
Verizon Communications Inc. (NYSE: VZ) is set to make changes to its plans that will make them more expensive, but will also include more data, CNET reported, citing "someone familiar with the changes."
The report said the low-end "S" plan will become pricier by $5 to $35 a month, but will include two times the amount of data at 2 gigabytes. The "M" plan will go up by $5 to $50 a month, while its data will rise from 3GB to 4GB.
In addition, the "L" plan is set to increase by $10 to $70 a month, while data will increase from 6GB to 8GB. The "XL" plan will go up by $10 to $90 a month, with a boost to 16GB, up from the previous 12GB. Lastly, the "XXL" plan will cost $10 more at $110 a month, but will feature 24GB instead of 18GB.
Other Changes Ahead
CNET said, "The changes are part of a broader overhaul of its plans, which will also include a rollover data program called 'Carryover Data,' a new way to avoid overage fees, and better access to Canada and Mexico."
Verizon will also introduce a new My Verizon app through which users will be able to turn on "Safety Mode," a protection against overage fees.
"Safety Mode will be available for free to customers with an XL or XXL plan. S, M and L customers will have to pay $5 a month to access the feature. Customers will also be able to see how much data they are carrying over from the previous month through the app," according to the report.
CNET said a Verizon spokeswoman declined to comment, but hinted at "fireworks" later this week. "Stay tuned," she said. The company will host a press conference at 1 pm ET/10 am PT on Wednesday to "unveil a transformational wireless experience."
Meanwhile, existing customers can opt to change to these new plans and rates, but they won't be forced into them.
Shares of Verizon closed Tuesday's regular trading session at $56.53.
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