Verizon has recently faced growing challenges in retaining customers as competition in the wireless market intensifies.
The carrier has lost more than 2.25 million customers over the past three years and has continued to adjust its phone plans, including a recent change that could prompt consumers to look elsewhere for service.
In 2025, Verizon made several key pricing changes that frustrated customers. In February that year, Verizon raised prices for customers on myPlan and New Verizon Plan accounts.
Also, Verizon Mobile Protect Multi-Device and Verizon Mobile Secure Multi-Device plans increased by $8 the following month. Later in the year, the carrier raised its device activation fee from from $35 to $40, ended loyalty discounts, hiked its tablet plans by $5 to $10, and raised two key billing fees.
More recently, in March, Verizon revealed it would increase the monthly price of its Netflix and HBO Max streaming bundle from $10 to $13, a change that took effect on May 6.
After major pricing changes, Verizon CEO Dan Schulman vowed during an earnings call in January to stop rolling out “price increases without corresponding value” and enforce a “customer-obsessed culture” within the company.
Since then, Verizon’s wireless retail postpaid phone churn, the percentage of smartphone customers who ended their service, reached 0.97% during the first quarter of 2026, according to its most recent earnings report.
This is two basis points higher than the churn it reported for this segment during the same quarter last year.
Verizon rolls out another price increase
Despite recent customer losses, Verizon has quietly raised the price of its Unlimited Ultimate plan, according to a recent report from Droid Life.
Before the price increase, the plan charged $80 per month for one line. Now, that monthly rate has increased by $5, regardless of the number of lines on an account under that plan. This change officially took effect on May 7.
What’s also raising eyebrows about the price increase is the fact that Unlimited Ultimate includes a three-year price-lock guarantee. However, in the fine print, Verizon states that the guarantee applies to “the then-current base monthly rate” it charges when a customer signs up for the plan.
Related: Verizon CEO doubles down on removing free offers for customers
This means the price increase applies only to new customers, which Verizon confirmed in a statement to Droid Life.
The carrier also clarified that the plans now include Identity Secure, an add-on that helps reduce identity theft, and Verizon Family Plus, which provides parental controls and other safety tools for family accounts.
“Customers who subscribe to our new Unlimited Ultimate plan will get access to two new features – Identity Secure and Verizon Family Plus – providing an additional $15 in added monthly value for just $5,” said Verizon in the statement.
“These enhancements give customers even more value as part of their relationship with Verizon, with security and family management tools now included in our best mobile plan. Existing customers currently on our Unlimited Ultimate plan will not see any change to their monthly plan price.”
Verizon’s latest move could deter price-sensitive consumers
The move from Verizon comes amid tougher competition from T-Mobile, AT&T, cable providers, and smaller carriers, including mobile virtual network operators (MVNOs), in the wireless industry.
“The industry is seeing more competitive pressure, and the thirst for subscriber adds at T-Mobile and Verizon is leading the charge,” said Raymond James analyst Frank Louthan in a January report obtained by Investor’s Business Daily.
Verizon’s decision to raise prices could be a risky move. The fight for consumer dollars in the wireless industry has intensified over the past few years as more Americans nationwide have exercised their power to switch carriers in response to price hikes.
In December, a survey from WhistleOut found that 42% of Verizon, AT&T, and T-Mobile customers saw their phone bills increase in the past year.
Also, 58% of these customers said they are considering switching to another carrier. All three carriers risk losing 30 million customers combined due to high wireless plan prices.
In response to this shift in consumer behavior, more wireless carriers have been lowering their prices and doubling down on value to attract and retain customers, according to recent data from CTIA.
How wireless prices have shifted for American consumers:
- Prices for unlimited wireless service plans declined by more than 10% in 2025 and are down by 35% over the last five years.
- Prepaid plan prices dipped by 2.6% last year and are down by over 51% over the last five years.
- The price per gigabyte of mobile data dropped by more than 21% last year.
- The Consumer Price Index (CPI) shows that the overall real cost of wireless service declined by 6.6% last year, bringing the decline over the last 10 years to over 41%.
Source: CTIA
“Wireless is one of the great consumer success stories of our time,” said CTIA CEO Ajit Pai in a press release. “Prices are down, speeds are up, and the value Americans get from their wireless service has never been greater.”
“That’s the result of a competitive market and continued private investment in world-class networks, and it’s exactly why policies that support infrastructure deployment, licensed spectrum access, and competition are so important.”
Related: Verizon raises price on key discounted offer for customers
