Verizon May End Unlimited Data Plans for Smartphones

Verizon Wireless (VZ) is reportedly planning to unveil new, limited data plans next Thursday, according to a report from the tech site Engadget. If Verizon follows in the footsteps of archrival AT&T (T), this could mean the death of the unlimited data plan option for new smartphone accounts, a prospect that would be especially painful to consumers looking to take advantage of Verizon's new Droid X offering.

The affect such a decision might have on Verizon's bottom line is less clear. While the company would definitely benefit by freeing up space on its network, it would lose a major competitive advantage it currently holds over AT&T in attracting new customers. Verizon reports its second-quarter earnings Friday morning, and company executives will likely face questions from Wall Street regarding AT&T's recent moves and Verizon's planned response.