Verizon planning to axe unlimited data plans

Verizon planning to axe unlimited data plansNetwork provider Verizon has plans to put an end to unlimited smartphone data plans sometime this summer.

Speaking at the Reuters Global Technology Summit on Thursday, Verizon’s chief financial officer Fran Shammo announced that the carrier would soon swap the existing $30-a-month unlimited option with new tiered pricing plans.

Reuters reported that the move was designed to obligate heavy smartphone data users to pay more for data.

Shammo did not mention the potential tiered pricing plans, but Verizon is expected to mimic AT&T’s tired pricing plans, which costs $15 and $25 per month for 250MB and 2GB of data respectively.

Soon after AT&T put an end to its unlimited data plans previous summer, Verizon hinted that it would not be long before it follow suit. The company also stated that they could see a potential of Verizon's customer base spending in a range of $30 to $50 per month.

Shammo also announced that the carrier would also launch mega plans that would offer a set amount of data for a set one set price to members of a family and allow them to share among multiple devices.