Verizon Ending Unlimited Data Soon (VZ, AAPL)

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Sorry new iPhone customers. You can't have your cake and eat it to. Verizon
VZ
said that it will be taking away the
unlimited data plan
in the summer sometime, and will move to a user based data plan. Verizon Chief Financial Officer Fran Shammo said that due to the recent release of the Apple
AAPL
iPhone, Verizon wanted to keep the unlimited plan for now, but will move towards the plans that AT&T
T
currently offers, which charges you based on how much data you consume. "We will probably do that in the mid-summer time frame," Shammo said. Shammo also said that a new Iphone may be coming soon, though he didn't say it outright. "There could be some (margin) lumpiness when you launch the phone," Shammo said during a webcast of an investor conference. "If there happens to be a new one that comes out, that quarter might not look so good (either)." Shares of Verizon are up 39 cents to $36.41, a gain of just over 1% this morning.
Posted In: News
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