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Yahoo Finance Plus Verizon Plans to Boost Wireless Home Internet Price by $10 in Profit Push
(Bloomberg) -- Verizon Communications Inc. is raising the monthly price on its wireless home internet offering by $10, marking the second increase in two years for its services.
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Home broadband will jump to $35 a month later this summer, combined with a top-tier unlimited wireless plan and an AutoPay agreement, according to a person familiar with the company’s plans. The package has been one of the few growth areas for the largest US wireless carrier and raising prices on one of its more popular offerings is designed to widen profit margins at a time when mobile phone subscriber growth is slowing.
Verizon is expected to report Tuesday that it added 256,700 home wireless subscribers in the second quarter, according to analysts’ estimates.
By beaming high-speed internet connections into home receivers, Verizon and T-Mobile US Inc. have been using this lower-cost alternative to landline connections to chip away at the broadband service offered by cable companies.
Verizon’s price hike on internet services follows last year’s increased rates on wireless bills.
The wireless broadband offer is for new customers and requires subscribers to take Verizon’s unlimited plus plan for mobile phones, which starts at $65 a month for a single line.
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