Verizon ending unlimited data plan, will introduce tiered pricing plans for heavy data users

The good times/unlimited data can’t last for ever.

Per Reuters, a Verizon executive said today that the company will be kicking off the summer by eliminating smartphone plans that allow unlimited web access for a flat fee. Those will be replaced with tiered pricing that will make heavy data users pay more for mobile data. It was also mentioned that Verizon will release the next iPhone at the same time as AT&T.

Chief Financial Officer Fran Shammo mentioned the company’s plans at the Reuters Global Technology Summit. However, they are aiming to ease the pain by offering more options, such as family plans for data services.

“We had individual minutes for individual users. Then we eventually got to what we call family share where everyone in the family shares the same minutes,” said Shammo.

“I think it’s safe to assume that at some point you are going to have mega-plans (for data) and people are going to share that mega-plan based on the number of devices within their family. That’s just a logical progression,” he continued, but failed to mention when said mega-plans would actually come to fruition.

Shammo also cited that when the next iPhone model comes to light, Verizon will be able to offer it at the same time as AT&T. The handset would also have global coverage, just like AT&T’s version.

Much speculation has been bantered about as to whether or not the next iPhone would support LTE, but Verizon isn’t concerned, saying they have enough high-speed alternatives to sell.

“I think it’s a bigger issue for Apple than it is for us,” he notes. “Depending on where Apple plays, that’s where we’ll sell.”

Stay tuned for additional details as they become available.