Verizon Wireless Lowers Prices

Verizon Wireless (NYSE: VZ) has lowered its voice plan prices, while encouraging customers to sign up for more data services.

Verizon, the largest cell phone carrier in the nation, lowered the cost of its monthly unlimited calling plan from $100 to $70. A similar plan that includes unlimited calls and text messages was lowered from $120 to $90.

Verizon's goal is to sign up more customers and get them using more of its data services, then market more profitable 4G services as the Verizon network is upgraded.

Verizon will also reduce the number of handsets from 80 down to 50 in order to simplify its product line. CEO Lowell McAdam said that the company's network is ready for the heavy traffic that devices like the the Palm (Nasdaq: PALM) Pre Plus will generate.

"To me it is more about the tools we had available to us. Getting Alltel done gives us a lot of scale advantages. We’ve been looking at this for the last 6 months. The Droid has been a great flagship device for us. The pieces really started to come together. When we see an opportunity to gain share and do it profitably we’re going to do it," said McAdam during a conference call.