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Verizon Nixes Contracts, Subsidies for New Customers

Under pressure from trends in the industry, Verizon is simplifying its wireless plans for new customers. Beginning Aug. 13, there will be no more subsidies and contracts, eliminating two of the most confusing aspects of buying a phone and service plan, the company announced in a statement.

If you’re on a contract now, and want to keep receiving subsidies, you can keep doing so. But new customers have to adopt the new plans. Here’s how it’ll work: Verizon is rebranding its data packages according to size (kind of like ordering a drink at Wendy’s): There’s a small, medium, large, and extra large. Each package includes unlimited calling and texting, but you pay for your allotment of data.

The small package includes 1GB of data and costs $30 a month. Medium is $45 for 3GB, Large is $60 for 6GB, and Extra Large is $80 a month for 12GB. At first, the plans seem to be cheaper, but you’ll be paying for a couple of add-ons that push the price up to traditional levels. You still have to pay $20 per active device on the account. And if you opt for a monthly installment plan to pay off your device, you’ll have to pay for that, too.

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