Verizon to Drop Unlimited Data Plans at Next Upgrade

May 17, 2012 Updated May 17, 2012 at 12:23 PM EDT

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Verizon to Drop Unlimited Data Plans at Next Upgrade

May 17, 2012 Updated May 17, 2012 at 12:23 PM EDT

This summer, Verizon Wireless will begin forcing its Smartphone customers with unlimited data plans to switch to tiered plans when they upgrade their phone next.

The telecom giant will unveil a family “data share” plan mid-summer, which will give customers the ability to buy an allotment of data that can be shared across multiple devices linked to the same account.

Verizon will discontinue its practice of allowing customers who have legacy unlimited data plans to keep those plans when they buy a new Smartphone. As you come through an upgrade cycle you will have to go onto the data share plan.

It’s unknown at this time if other cellphone providers will make a similar move with their unlimited data customers.

The idea behind Verizon's change is that more customers are using less voice minutes and using more data, causing revenue for the company to drop when their data expenses continue to rise.