Sprint Losing Customers From Verizon's New Unlimited Plan
When news broke that Verizon was launching a new unlimited plan, it was quite a surprise when just a year ago, Verizon's CFO claimed not to believe that an unlimited model could work. Now, it seems everything is working out pretty well for the company because Sprint is apparently losing its customers.
Verizon's Unlimited Plan Hurting Sprint
Last Tuesday, at a Deutsche Bank investor conference, Spring CFO Tarek Robbiati confirmed in a roundabout way that Verizon's push on unlimited plans is hurting Sprint's number. The CFO said, "The rise of competitive intensity has probably triggered a little bit more than we thought. We see churn to be relatively stable for the quarter. We had foreshadowed before the churn would be coming down over the quarter."
The "churn," according to an article at BGR is the turnover rate of customers which is Robbiati's way of saying that Sprint is losing customers. Furthermore, the company's stock price is reportedly down by five percent, thanks to the "churn" and the unlimited data pricing that is hurting its profit margin.
Speaking of unlimited data pricing, Sprint does offer a much cheaper price for its unlimited plan compared to Verizon. However, this was supposedly against the company's wishes, because given that Sprint's network struggles to compete with T-Mobile, Verizon and AT&AT, there was no choice but to cut its prices just to stay competitive.
Sprint vs Verizon Unlimited Plan
For data limits and throttling, Sprint has 23 GB while Verizon has 22 GB. For cost of a single line, Sprint is $50 per month while Verizon is $80. However, that $50 price expires until March 31, 2018 which will later become $60 per month.
For additional lines, Sprint offers the second line for $40 and there no additional monthly fee for the lines three to five. Verizon on the other hand offers $70 each for two lines, $54 each for three lines, and $40 each for four lines. Lastly, for the HD video streaming and mobile hotspot data, both Sprint and Verizon includes HD video streaming in their unlimited data plans and also 10GB per month of mobile hotspot data.
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