Aug 07 AT 11:57 AM Evan Selleck 0 Comments

Verizon axes two-year contracts as it refreshes rate plans

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Over the last few years, the mobile industry has been making some major changes to the way that those in the U.S. get their hands on smartphones and other devices. While two-year contracts and phone subsidies aren’t completely gone just yet, it all seems inevitable at this point. And Verizon Wireless is now driving that point home.

The wireless carrier has just confirmed that some major changes are coming to its plan lineup on Thursday, August 13. First and foremost, the rate plans are changing in a big way, getting more simplified along the way. They will now be known simply as Small, Medium, Large, and X-Large. The Small plan will offer 1GB of data per month for $30 per month, the Medium with 3GB of data for $45 per month, while the Large will boast 6GB of data for $60 per month, and, finally, the X-Large plan will offer 12GB of data for $80 per month.

A $15 per gigabyte fee will hit any subscriber that goes over their monthly allotment.

On top of that initial charge, Big Red will charge a monthly access fee of $20 per smartphone, $10 per tablet or dongle, and $5 per wearable. Finally, subscribers will have to tack on the monthly payment of their smartphone, tablet, dongle, and/or wearable, too.

Why? Because Verizon Wireless is ditching two-year contracts completely beginning August 13. The carrier is moving away from the option altogether, going all-in with monthly payments. Verizon is also ditching its “Edge” branding in this big shuffle.

Current Verizon subscribers won’t have to change their plan to the new one by default, but if they want a new phone, or to change their plan to cut some costs, these new offerings will be the only ones available beginning August 13. And, if someone does switch to the new plans, the new phone must be purchased with monthly payments, as those yearly contract options won’t be available.

What do you think of these changes?

Source: CNET

Evan is a pretty big fan of technology, from phones to video game consoles and everything in between.

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