A little more than a month ago, Verizon welcomed a new CEO and significant changes are underway as the phone carrier sees an influx of loyal customers canceling their phone service following recent price hikes.
Verizon in 2025 in its third-quarter earnings report, it revealed a net loss of 7,000 postpaid phone customers for the quarter, with billings reaching 0.91%. This sounds alarm bells, because in the same 2024 In the quarter, the phone operator accepted 18,000 postpaid phone customers.
In last month’s earnings call, Dan Schulman, who on Oct. 6 became Verizon’s CEO, said price hikes are contributing to the company’s decline, along with friction in the customer experience, negative value perceptions and intense competition in the telecom industry.
“Over the last few years, our financial growth has been too dependent on price increases, and a strategic approach that is too dependent on price without subscriber growth is not a sustainable strategy,” Schulman said. “Every year it becomes more difficult to grow as we go through price increases and experience more price volatility. This cannot continue and there is no doubt that significant change is needed.”
Schulman’s comments follow a recent WhistleOut poll that found many Americans are making escape plans after their phone carrier recently raised their monthly bill.
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The average cost of an unlimited data plan for American families is $244 month
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About 42% Verizon, T-Mobile and AT&T customers have seen their phone bills increase last year, that is 7% higher than average.
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Also 58% Verizon, T-Mobile and AT&T customers considering a change to another phone operator when prices rise.
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All three telephone operators risk losing a combined 230 million customers due to high mobile plan prices.
Source: WhistleOut
“You can build the best 5G network in the world, but if the customer feels like the prices are going up and they’re getting headaches, people are going to leave,” RTMNexus CEO Dominick Miserandino told TheStreet.
To combat this growing trend, Verizon just announced some bold no-change deals on phones, tablets and watches to attract and retain customers this holiday season.
Verizon is offering a free iPhone 17 with a new line on any myPlan account. Customers can also get the Apple Watch Series 11 and iPad (A16) for free with a connected device plan, according to a recent press release.
For Samsung customers, Verizon is now offering a free Samsung Galaxy S25 with a new line on any myPlan account. Customers can also get the Galaxy Watch8 and Galaxy Tab S10 FE 5G for free with the Connected Device plan.
Related: Verizon’s CEO on why customers are leaving in droves
Plus, customers can get a free Google Pixel 10 with a new line on any myPlan account. They can get the Pixel Watch 4 and Samsung Galaxy Tab S10 FE 5G for free when they add a connected device plan.
Customers who add a new line to their Unlimited Ultimate plan are eligible for a free Motorola Razr. Plus, they can get $75 off a Gizmo Watch 3 or Gizmo Watch 3 Adventure with a connected device plan.
Verizon even invites AT&T and T-Mobile customers to bring their phone bills into their stores to compare savings.
The free phones come at a time when many Americans are holding on to their smartphones for longer periods of time as new phones become more expensive.
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The average American pays $634.35 for your phone. It is significantly less than the current retail prices of the latest premium phones that are available more than $1000.
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The average American keeps their phone around that long two years and five months.
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On average, Americans want to upgrade your phone within 16 monthsjust in the meantime 29% planning to upgrade your phone in the near future From 6 to 12 months.
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Just around 6% there are americans for those who want to upgrade your phone for a trade-in or better deal option.
Source: Reviews.org
In addition to the free phone deals, Verizon also introduced several discounts on audio accessories, such as $100 off the Beats Studio Pro, $80 off the JBL Charge 6, and more.
New Verizon home internet customers can also get a free Samsung 43-inch Q7F-class QLED TV, Samsung Galaxy Tab S10 FE 5G or Nintendo Switch with select home internet plans.
The move from Verizon comes after Schulman said during the company’s earnings call in October that the phone carrier would undergo a “transformation” focused on innovation and building customer loyalty.
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“It’s not going to be a promotional activity that can be quickly replicated,” Schulman said. “It’s about real innovation that our competitors can’t easily replicate.
In a recent analyst note, Morningstar analyst Michael Hodel wrote that despite Schulman’s efforts to fix troubling customer behavior, Verizon is still expected to lag behind its rivals.
“Competition in wireless has increased recently, but we expect Verizon and its two main wireless rivals, T-Mobile and AT&T, to compete rationally in the coming years,” Hodel said.
Related: T-Mobile customers face tough new bill payment rule
This story was originally reported by TheStreet in 2025. on November 11, where it first appeared in the retail section. Add TheStreet as a preferred source by clicking here.