Update, Verizon has confirmed that:
-Existing customers will still be able to sign new contracts and obtain subsidized phones as long as they keep their old plans.
-If an existing customer switches to the new plans, they will no longer be eligible to switch back to the old plans with subsidized phones.
-If an existing customers wants to switch to the new plans while in middle of a contract there will be $20/month surcharge until your contract is complete.
Originally posted on 08/10:
Effective 08/13 Verizon will be ditching contracts and subsidized phones on consumer plans and will move to a simplified plan structure.
More info from CNN and Verizon.
All plans will have unlimited minutes and texting. The differences will just be in the data:
-Small: 1 GB/month for $30
-Medium: 3 GB/month for $45
-Large: 6 GB/month for $60
-XL: 12 GB/month for $80
You can additional phones for $20/month, tablets and hotspots for $10/month, and smart watches for $5/month. Additional data will be $15/GB.
The days of subsidized $199 smartphones are coming to an end. Expect to pay $650-$750 now, though you’ll be able to break up that cost over time.
If you’re on an old plan you can keep the plan, but what’s unknown at this point is whether you’ll still be able to upgrade your phone at a subsidized rate after Wednesday.
I’ve called several stores and reached out to a few Verizon reps, but have gotten conflicting information. If you are sitting on a phone upgrade it may be a good idea to take advantage of that now.
Of course if you’re on an unlimited data plan you can’t upgrade anyway as upgrading causes the unlimited data to be lost. Though there are workarounds for that if you have additional phone lines on that account that don’t have unlimited data.
Note that these changes only affect consumer accounts, business accounts won’t be affected.