Verizon Chief Financial Officer (CFO) Fran Shammo told attendees at a Goldman Sachs investor conference in New York on September 20 that 'Unlimited is just a word, it doesn't really mean anything.'

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Verizon Wireless officially unveiled its “Share Everything Plans” on June 12 that allowed (still allows) customers to share data plans with up to 10 different mobile devices. Verizon’s Share Everything Plans start from 1 GB internet with unlimited shared minutes and shared messages for $50. As the new plans have attracted customers, so they are moving (changing their plan) to Verizon Wireless’ “Share Everything Plan”. Recently, on September 20, Verizon Chief Financial Officer (CFO) Fran Shammo told attendees (a lot of customers) at a Goldman Sachs investor conference in New York that ‘Unlimited is just a word, it doesn’t really mean anything.’


Verizon Wireless Logo, Image Credit : Wikimedia

Before you go deep, why don’t you have a look at the Verizon Wireless’ ‘Share Everything Plan’ below.

Verizon Wireless' Share Everything Plans

Verizon Wireless customers have realized that they don’t consume that much data. So paying extra money is not logical. Besides, the new plans have attracted  customers to change their plan because it can fulfill their demand. Hence, many customers who have unlimited plan are shifting to Share Everything Plan. Fran Shammo said, “We are surprised on shared from many different aspects. …More people are going to shared than we actually anticipated. And the thing that really surprised us is we have a lot of people coming off unlimited to go to shared.”

On the contrary, the carrier stopped offering unlimited data to new customers last year, due to growing smartphone usage, blocking the carrier’s pipelines. Shammo said, “What customers are understanding and through our good sales routine is once you explain to a customer their usage on a monthly basis, unlimited is just a word, it doesn’t really mean anything and that people don’t really – I think a lot of consumers think they consume a lot more data than they really do. Unlimited is just a word, it doesn’t really mean anything. So that whole unlimited thing I think is going by the wayside and they see the benefit of going to the shared.”

But those existing customers who would like to have unlimited data can keep their unlimited data plan, only then, if  they pay full price for the newly released 16GB iPhone 5 (price $649). But new customers aren’t able to get the unlimited data plan; rather they have only one option – Share Everything Plan.

If you would like to hear Shammo’s full comments, then you can listen to the official webcast at the Goldman Sachs 21st Annual Communacopia Conference page. You can also get the full transcript (PDF) online, too.

Source : Verizon Wireless (PDF)
Thanks To : 9to5mac

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  On September 23, 2012(2 years, 2 months ago.)

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