Accelerating our Customer-First Strategy with Industry-Leading 3-Year Price Lock and Free Phone Guarantee for Everyone
Rhea-AI Summary
Verizon (VZ) has announced significant enhancements to its consumer business strategy, introducing three major initiatives:
- An industry-first 3-year price lock guarantee on all myPlan and myHome network plans for new and existing customers
- A free phone guarantee with trade-in on any myPlan and free home router with myHome plans
- Expanded savings opportunities including free satellite texting, bundled streaming services at 40% discount, and benefits through Verizon Visa Credit Card and Openbank
The company aims to strengthen customer relationships and improve retention through these value-focused offerings. The price lock ensures core monthly plan prices for calling, data, and texting remain unchanged, excluding taxes, fees, and perks. Customers can receive free phones when trading in any Apple, Google, or Samsung device in any condition. Additionally, myPlan and myHome customers can save on popular streaming services and receive an extra $15 monthly discount for combining services.
AI-generated analysis. Not financial advice.
Positive
- Introduction of industry-first 3-year price lock guarantee strengthens customer retention
- Free phone offering with any trade-in reduces customer acquisition costs
- Bundled streaming services and combined service discounts create additional revenue streams
- Strategic focus on customer retention supports sustainable revenue growth
Negative
- Price lock guarantee excludes taxes, fees, and perks which may still increase
- Free phone offer requires 36-month commitment with minimum plan requirements
- Trade-in program to Apple, Google, or Samsung devices only
News Market Reaction – VZ
On the day this news was published, VZ gained 1.97%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
NEW YORK, April 03, 2025 (GLOBE NEWSWIRE) -- Verizon today announced the next evolution of its multi-year consumer business transformation, with a strong value commitment designed to strengthen long-term customer relationships across its mobile and home portfolio. This strategic advancement builds on the company’s successful execution of myPlan and myHome, positioning Verizon to further extend its industry leadership.
“Today marks the next strategic step of the consumer business transformation journey that began two years ago,” said Verizon Chairman and CEO, Hans Vestberg. “We are redefining our relationship with consumers by building on our industry-leading network and innovative offerings. By giving unprecedented value and predictability across both mobile and home, we are establishing the new industry standard for a long-term customer relationship, supporting our path to improved retention, sustainable revenue growth, and long-term shareholder value.”
“We’re committed to delivering what our customers want and need, offering more control, value and simplicity,” added Sowmyanarayan Sampath, Verizon Consumer CEO. “That’s why we’re proud to introduce this industry-leading guarantee: a 3-year price lock across mobile and home, which provides peace of mind, and a free phone on every myPlan, giving customers even more value. 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.”
Effective today, Verizon introduces three ways to add even more value for its customers, further strengthening its unique market position:
1. Price Lock Guarantee on all plans:
- Verizon is the first and only carrier in the industry offering new and existing customers a three-year price lock guarantee on all myPlan and myHome network plans.
- Customers don’t have to take any action. All existing myPlan customers will automatically be enrolled. And, every time you change your myPlan, the price lock resets for another 3 years.
- This industry-first guarantee ensures your core monthly plan price for calling, data and texting will not change, excluding taxes, fees and perks.
2. Free phone and home router guarantee:
- Now, new and existing customers are guaranteed the same great deals on any myPlan with trade-in. Today that means a free phone when they trade in any phone, any condition from Apple, Google or Samsung.
- Home internet routers are included at no additional cost with every myHome plan. No extra fees, just included.
3. The most ways to save, only at Verizon:
- Verizon is the first and only in the industry to guarantee free satellite text messaging on qualifying devices on any myPlan. We don’t believe that people should have to pay for this. It’s value and peace of mind, on us.
- myPlan and myHome customers can save over
40% on five of the most popular subscription services, Netflix & Max and Disney+, Hulu and ESPN+. All 5 for just$20 /mo. - Plus, customers save an additional
$15 /mo when they have myPlan and myHome, and they get a perk on us with our best Internet plans. - And now, customers can save big on their Verizon bill with the Verizon Visa Credit Card and the Verizon Openbank High Yield Savings Account.
For more information, visit verizon.com.
myPlan: Applies to the then-current base monthly rate for your talk, text, and data. Excludes taxes, fees, surcharges, additional plan discounts or promotions, and third-party services. Void if any of the lines are canceled or moved to an ineligible plan. Plan perks, taxes, fees, and surcharges are subject to change. myHome: Price guarantee for 3-5 years, depending on internet plan, for new and existing myHome customers. Applies only to the then-current base monthly rate exclusive of any other setup and additional equipment charges, discounts or promotions, plan perk and any other third-party services.
Minimum
Free Perk Credit: Availability of each perk is subject to specific terms, and age requirements. Requires one paid perk on eligible Verizon mobile phone line or eligible home internet plan. Up to
Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of
VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.
Media contact:
Elizabeth Angley
Elizabeth.Angley@verizon.com
Holland Behn
holland.behn@verizon.com
