If you don't pay they ETF and final bill, they will turn your account over to collections who will call you at work, at home, at school, on your cell, maybe 5 times a day. They will ruin your credit and they could very well take you to court to try to get their money.
Keep in mind Verizon isn't forcing you to get new phones, many people are still using Alltel phones, but if you're phones are worn out or YOUR needs require you to have an updated phone, that isn't Verizon's fault.
I say give it six months and see what happens. It seems like very few people like the new plans. If enough people leave Verizon they might end up rethinking the plans. My only hope is that AT&T doesn't follow Verizon's path. I have both, AT&T is my personal, Verizon is company issues.
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Still, while Verizon's churn figure is under 1%, it represents ~1,000,000 lines. But a difference of 150,000 customers in one way or the other in that ~0.9% churn will be indistinguishable in a real sense. They probably lose more customers due to a lack of pink phones than to price policy changes like the ones coming out this month.
I'm guessing Verizon would probably need to lose a net of a couple million customers before you might see them readjust their pricing policies. And even then only if it actually hurt profitability. That's also assuming their competition doesn't follow suit and mirror Verizon's pricing, which seems to be the norm in recent times. If their competition does "match" pricing, then it's back to an even playing field and Verizon's superior coverage and solid customer support will keep them in the business of adding those new customers.
It just keeps getting better...
The superior coverage gives them some leverage but are they pushing things too far? Time will tell so it's all speculation at this point. If they lose 5mil customers in a quarter I could see a quick revamp on the pricing but I figure they may lose a few hundred thousand quarter 3 but that's just a guess. I don't think the loss will be very big overall
This is pure speculation but do you think vz priced them high knowing they would lower them? I like the simplicity of the plans but the prices stink.
I don't think the new plans will hurt them but so much, at least right now since many will most likely keep the plans they have for now. When people are out if contracts then maybe we will see more change to other options. I'm in contract so the new plans won't change things for me for a while I hope.