Here’s How Verizon Plans to Take Your Unlimited Data Plan

Today Verizon revealed how it will kill unlimited data plans.

Shortly after releasing a vague statement in which is declined to provide much detail, Verizon has dished some details to The New York Times that clarify just what it plans to do with unlimited data.

Customers who are already on an unlimited data plan will be able to keep that unlimited data plan. So, those who have signed into an unlimited data plan on 3G or 4G LTE recently are good.

However, once the shared data plan launches this summer, unlimited data will no longer be an option to those signing up for a device with a subsidized price tag. Those who are on a grandfathered unlimited plan who wish to keep unlimited data will have to pay the full retail price on a device.

That means that customers will have to shell out upwards of $500 for a smartphone to keep unlimited data.

Here is how Verizon broke it down:

– Customers will not be automatically moved to new shared data plans. If a 3G or 4G smartphone customer is on an unlimited plan now and they do not want to change their plan, they will not have to do so.
– When we introduce our new shared data plans, Unlimited Data will no longer be available to customers when purchasing handsets at discounted pricing.
– Customers who purchase phones at full retail price and are on an unlimited smartphone data plan will be able to keep that plan.
– The same pricing and policies will be applied to all 3G and 4GLTE smartphones.

So, no, unlimited data at Verizon is not going to be killed this summer. Instead, it will just die a nice slow death.

Unfortunately, Verizon did not clarify when this policy change would be put into place but the carrier has previously announced that its shared data plan will arrive by mid-summer of 2012.