Verizon Wireless will start raising prices for its wireless customers starting in June. Customers have been alerted about the impending increase, the first in two years, and these increases will apply to both consumer and commercial contracts.
to me BloombergThe reason for the increase is that Verizon Wireless can mitigate its rising costs due to inflation. Consumers should see a $1.35 “administrative fee” increase, while commercial customers will have a new “economic adjustment fee” attached to their bill. The modifications will arrive sometime in June for consumers and roll out June 16 for business customers.
Bloomberg It states that Verizon’s mobile data plans will also increase by $2.20, with basic service plans increasing by 98 cents.
Each new company contract presents a new opportunity to raise fees
Verizon Wireless hasn’t been shy about its new price increases either, with Tami Irwin, President of Verizon Business stating in a recent interview that “We are all feeling the pressure and we were in the process of determining how much of that pressure we can share with our customers.” As Erwin mentioned it “Each new company contract presents a new opportunity to raise fees. Verizon will be able to negotiate higher rates on new service plans when previous plans expire.” As for Verizon Wireless, it claims to be trying to provide better service, and it promotes the quality of its 5G network.
Price increases are always tough for consumers but it seems to be a trend in the wireless industry. Just two weeks ago, AT&T raised their prices on some of its older wireless plans. The increases were the company’s first in three years, though the company claims they were necessary due to inflation. Of course, AT&T has also encouraged its customers to switch to new plans, which may reduce the impact of the new price increases.
Now, all eyes will be on T-Mobile, which has made a name for itself by doing things that go against the norm. Only time will tell if T-Mobile will be able to live up to its past of being an “Un-carrier,” as it pledged to keep pricing fair and simple.
source: Bloomberg
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