Verizon Phone Contracts Removed, New Monthly Plans Introduced

Verizon officials announced Friday that it will now stop its annual contracts for its subscribers and instead switch to month-to-month plans starting Thursday. The new plans feature various discounts and price hikes. The bad side, customers will now have to pay for their phones.

Verizon’s new plans are:

$30 a month for 1GB of data
$45 for 3GB
$60 for 6GB
$80 for 12G

The data can be shared between as many as 10 devices with additional flat monthly fee for each mobile device. A smartphone is $20 a month, tablets and Jetpack mobile hotspots are $10, and connected devices like smart watches are $5.

Current Verizon customers with annual contracts can keep their plans or switch over to one of four new options.