AT&T Inc. (NYSE:T) is not letting the introduction fo a new data-eating device change their data plans – at least no now. With Apple Inc. (NASDAQ:AAPL) launching its new LTE iPhone 5 Wednesday, the wireless carrier announced that existing customers who have unlimited data plans will be allowed to keep their plans if they purchase an iPhone 5. The company had introduced Mobile Share plans recently that were meant to generate more revenue by directing customers to use more data on their smartphones.
While AT&T Inc. (NYSE:T) does include Mobile Share data plans for customers, those who buy an iPhone 5 from apple Inc. (NASDAQ:AAPL) will be allowed to keep their current plans if they wish, or move to a new data plan with a new contract, according to a press release from the wireless carrier. The company boasts the largest 4G network, but is second to Verizon Communications (NYSE:VZ) in the LTE network capacity, for which the iPhone 5 is designed. AT&T Inc. (NYSE:T) has been listed as the carrier that has sold the most iPhones historically, though being behind on LTE capacity may affect the company’s standing unless it can catch up with Verizon Communications (NYSE:VZ).
AT&T Inc. (NYSE:T) announced that it will sell the 16GB iPhone for $200, the 32GB version for $300 and the 64GB version for $400 with a two-year contract. the cheapest model will reail for about $650 without the contract. Data plans for the smartphones will range from $10 a month on up.
Whether AT&T Inc. (NYSE:T) can parlay its 4G network and its strong existing relationship with Apple Inc. (NASDAQ:AAPL) into strong numbers to make up market-share ground on Verizon Communications (NYSE:VZ) will be something for investors like hedge-fund manager D.E. Shaw to watch in the coming months.