Verizon to Launch $50 Unlimited Prepaid Plan, Right in Time for the New iPhone [Report]

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Verizon iPhone

The Wall Street Journal is reporting that Verizon Wireless is launching an unlimited voice and data prepaid plan. The plan will compete directly against Sprint and T-Mobile’s prepaid options. AT&T already offers a prepaid plan for $50 called GoPhone.

Verizon’s new $50 plan will include unlimited talk, text and web usage. Starting this Thursday, the plan will be available to eligible Verizon Wireless customers. It looks like iPhone users have one more reason to switch to Verizon.

“Verizon Wireless will begin offering the plan–which includes unlimited talk, text and Web use for $50 a month–on Thursday, said spokeswoman Brenda Raney. In addition to Verizon stores, it will be sold at Best Buy Co. (BBY), Wal-Mart Stores Inc. (WMT) and Target Corp. (TGT) locations.

Verizon is making the push into unlimited prepaid plans as the category drives customer growth on Sprint’s Virgin Mobile and Boost brands, as well as MetroPCS. Prepaid plans, which have historically been marketed to lower-income customers, are becoming more attractive as the cost declines and phone choices improve.”

As the “cost declines” and “phone choices improve.” Interesting.

Apple has been quoted as saying that it has been trying to “figure out” the prepaid market, and CEO Tim Cook has said that Apple doesn’t want to make products that are “just for the rich.”

It’s rumored that Apple will make its first foray into the prepaid market this Fall with a cheaper iPhone model. Details are scarce, but it would be a crying shame for Apple’s next event to come and go without an iPhone that’s primed to take advantage of Verizon’s new plan.