Verizon is increasing wireless home internet prices again. The company will soon charge an extra $10 for wireless home internet according to Yahoo! Finance, the second price increase in two years. Sometime this summer, Verizon wireless internet will start costing $35 a month including the autopay and paperless billing discounts.
Update: Verizon has sent Cord Cutters News the following statement on these changes.
Verizon Mobile customers have limited time left to take advantage of our introductory promotional pricing of $25 for home internet on our 5G Home and LTE Home plans. The discount will change later this summer when we launch new 5G Home & LTE Home internet plans with enhanced features and discounts. Prices for current customers on existing plans will not be increased.
These changes will allow us to continue offering customers tremendous value, including up to $15 off our 5G Home and LTE Home internet plans when you subscribe to one of our premium Unlimited mobile plans.
Other restrictions apply, including being signed up for a Verizon mobile plan. Prices for those start at $65 a month for one line, an attempt to pull customers away from cable providers who offer landlines. You must also sign up for Verizon’s unlimited wireless plan. Check out everything Verizon has to offer on the company’s website. You’ll also be able to see if you qualify for the Affordable Connectivity Program to receive $30 off your monthly bill.
The price hike hasn’t been officially announced however, Verizon is scheduled to release a report tomorrow showing the company has grown its subscriber base by 256,700 during the second quarter of this year. The price increase and when to expect it could be revealed at that time as well.
Verizon is using the price increase to offset its slowing phone subscriber growth. The company also hopes to boost revenue for the next quarter by increasing the price. Adding in the mobile phone subscription could help Verizon snag customers away from cable providers who also offer a phone line.
A cable contract is much pricier than Verizon’s wireless home internet and mobile phone package. The company also offers the benefit of having no annual contracts, so you can change or cancel your plan at any time. The $35 internet package tier is offered to new customers and, again, you must have a mobile phone plan with Verizon on top of it.
Check back with Cord Cutters News tomorrow to get the scoop on Verizon’s second quarter reports.
What do you think about the expected price increases? Do you think Verizon’s service is worth the price compared to cable packages?