Later this week, Verizon customers will no longer be offered a traditional contract option when they want a new phone or a new plan.
News that the wireless provider will sell phones and plans separately is part of a trend started by T-Mobile and followed by AT&T, as well. As the Washington Post reports, a sea change in pricing is indicative of how the wireless business actually works (hint: it's called the wireless business, not the cellphone business).
The companies will focus more on selling data packages and while they will offer payment plans for new phones, iPhone buyers will see prices go from a couple of hundred dollars with a 2-year contract to $600-plus.
How will these changes impact consumer behavior?
Brian Fung, Technology Reporter, The Washington Post