Verizon Wireless to Cut Prices, Double Data Plans in Price War
Verizon Wireless, bowing to competitive pressure from T-Mobile US Inc. and AT&T Inc., said it will double monthly data allowances for some customers and include international text messaging under existing plans.
Customers will immediately have more options such as discounts of as much as $20 a month if they pay full price for phones, and 25 gigabytes of cloud storage, the Basking Ridge, New Jersey-based company said today in a statement.
The move is the first price change by Verizon Wireless in about two years as it responds to price competition from national carriers including AT&T and T-Mobile, said Roger Entner, an analyst with Recon Analytics LLC. AT&T announced a $40 price cut on family plans this month and Sprint Corp. (S) also introduced its Framily plan to give discounts.
“Verizon has adjusted their rate card to reflect a more price competitive landscape,” said Entner.
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