Verizon Announces New Cellular Data Plans (VZ)

In a recent report from the Wall Street Journal, Verizon Wireless (NYSE: VZ) CEO Ivan Seidenberg recently announced that Verizon plans to start charging wireless customers based on their internet data usage and introduce new plans with limits.

This new move will follow AT&T's (NYSE: T) decision to stop selling an unlimited data plan to new customers and begin selling two service plans with monthly caps. Is the a good move by the two companies? Many would argue yes because it allows customers who do not use much data to pay a lesser fee on one hand. In addition putting a cap on the users who are constantly using data hoarding features on the phone will free up network space in hopes to allow it to move quicker.

There has been few complaints since AT&T initiated the recent plan changes and most would suspect the same would happen when Verizon makes that same transition.

Both AT&T and Verizon are trading slightly higher on the day.

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