Business
Verizon Launches Three-Year Price Lock for Mobile and Home Plans
NEW YORK – Verizon today unveiled a new strategy in its multi-year consumer business transformation, introducing a three-year price lock on its mobile and home plans. This initiative aims to foster long-term customer relations amid a fluctuating economic climate.
Announced on April 3, 2025, the newly implemented price guarantee builds on the success of Verizon’s myPlan and myHome offerings. The company is betting that this commitment will not only enhance customer retention but also ensure sustainable revenue growth. Verizon’s Chairman and CEO, Hans Vestberg, emphasized the importance of this development, stating, “We are redefining our relationship with consumers by building on our industry-leading network and innovative offerings.”
According to Verizon, this three-year price lock applies to both new and existing customers without requiring any separate enrollment or contractual obligations. If customers switch plans, the price lock will renew automatically to maintain persistent rate stability.
Sowmyanarayan Sampath, CEO of Verizon Consumer, added, “We’re committed to delivering what our customers want and need, offering more control, value, and simplicity. We have the most ways to save with offers you can’t find anywhere else, including free satellite texting and the Verizon Openbank High Yield Savings Account.”
Starting today, customers can benefit from three key offers that bolster Verizon’s position in the competitive market:
- Price Lock Guarantee on all plans.
- Free phone and home router guarantee with trade-ins.
- Additional savings opportunities exclusive to Verizon customers.
This new plan comes in response to increasing customer concerns regarding the escalating prices of everyday necessities. Verizon’s price lock applies only to the base monthly rate, excluding fees, taxes, and surcharges, which could still rise. This fine print offers Verizon flexibility in adjusting monthly bills in relation to varying taxes and additional plan costs.
In addition to the price lock, Verizon is also guaranteeing free satellite messaging on devices compatible with this service, further asserting its commitment to providing value.
The free phone promotion allows customers to trade in any Apple, Google, or Samsung device, regardless of its condition, as long as the respective plan remains in good standing. The value of the trade-in can be up to $1,000 spread over 36 months.
Verizon’s new policies arrive at a time when wireless rates have seen multiple hikes in the past year. This includes an increase in fees between December’s administration fee rise and January’s adjustments to various plan rates.
As Verizon aims to unify its customer experience and foster loyalty, this new model attempts to navigate the turbulent economic landscape while adhering to customer needs. These changes are expected to reshape the operational standards within the telecommunication industry.
