Source: David Goldman / CNN Money
NEW YORK - Verizon Wireless is planning this summer to begin forcing smartphone customers with unlimited data plans to switch to tiered plans when they upgrade, the company’s chief financial officer told Wall Street analysts on Wednesday.
At the JP Morgan Technology, Media and Telecom conference in Boston, Verizon CFO Fran Shammo said the company will unveil a “data share” pricing model by mid-summer, which will give customers the ability to buy an allotment of data that can be used across multiple devices linked to the same account.
As that plan rolls out, Verizon (VZ, Fortune 500) will discontinue its practice of allowing customers who have legacy unlimited data plans to keep those plans when they buy a new smartphone. Verizon stopped allowing new customers to buy unlimited data plans a year ago.
“As you come through an upgrade cycle and you upgrade in the future, you will have to go onto the data share plan,” Shammo said, “[We're] moving away from, if you will, the unlimited world and moving everybody into a tiered structure data share-type plan.”
To read this article in its entirety visit CNN Money.
Get Roland Martin Reports in your inbox!
Sign up for Roland Martin Reports Daily News Update powered by FeedBurner