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Verizon Planning Speed-based Prices for 4G Data?

Smartphones are wonderful, but there's one thing they've brought about that we're not so crazy about: Ever since the iPhone and the G1 came along and made data-guzzling device more mainstream and affordable, data plan pricing has been all over the place. What was once relatively affordable has become expensive and for the most part just plain bad value.

Well, perhaps Verizon is about to ride in on a big white horse and rescue us all. Instead of forcing us to choose between a mediocre and a massive data bucket, the company is contemplating charging users based on the speed they're getting.

A report in the Wall Street Journal cites Verizon CEO Ivan Seidenberg as saying the company is mulling over the possibility of changing its price model and charging users based on speed rather than data consumption. Seidenberg said the chance would be made possible by the carrier's move to its 4G LTE network.

Though these plans are not set in stone just yet, Big Red's CFO, Fran Shammo, echoed Seidenberg's proposal, detailing that the carrier's LTE network can deliver between 1 and 12 megabits per second of data.

"If you want to pay for less speed, you'll pay for less speed and consume more, or you can pay for high speed and consume less," Shammo said yesterday.

Would you prefer to pay for data speed instead of data consumption? Let us know in the comments below!

Source: Wall Street Journal