Paying two hundred bucks for a new iPhone on a two-year contract is quickly becoming a thing of the past. Verizon has jumped on the bandwagon with carriers like T-Mobile, offering new data plans and eliminating subsidies for new customers. The change effectively separates the cost of hardware from data pricing and line connection charges.
Verizon Wireless began offering the replacement data plans one week ago, to new and existing customers alike. There are four offerings labeled by size:
- Small: 1GB shared data for $30 per month
- Medium: 3GB for $45
- Large: 6GB for $60
- X-Large: 12GB for $80
Each iPhone connected to a shared data plan will have to pay $20 per month for line-access charges. Going over the limit results in a charge of $15 for each extra GB consumed during the monthly billing period.So how do customers pay for their new iPhone? Verizon used to offer a payment plan called Verizon Edge, which has been renamed simply to the Verizon device payment option. This option allows subscribers to pay for the iPhone in 24 interest-free monthly installments, or to purchase the device outright when starting up a new data plan. This means a $649 16GB iPhone 6 can be split into monthly payments of around $27 each for two years.
Verizon is not alone in rearranging its data plan offerings for customers. AT&T Mobility just changed around their Mobile Share Value plans this past weekend.