Verizon cuts prices for most data plans by $10 per month

The cellular giant continues its game of catch up with T-Mobile by cutting prices.

(Image: CNET/CBS Interactive)

Verizon has cut the cost of most of its data plans by $10 per month.

The largest US cellular giant, with more than 125 million customers as of its fourth-quarter earnings, said its cheapest monthly shared data plan of 1GB will now start at $30 per month.

Similar rates follow across the company's data plans, with 2GB shared data now costing $40 and so on.

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The wireless giant also announced new tiers of 12GB, 14GB, and 16GB, costing $110, $120, and $130 respectively.

The price cuts go into effect Thursday, Verizon said.

The cuts come at a time where Verizon, the market leader by user base, and other companies are battling T-Mobile, whose chief executive John Legere has spent the last two years shaking up the cellular industry.

T-Mobile's latest move was to introduce "data stash," allowing customers to rollover their data month to month. "Now you don't lose what you don't use," Legere said at the announcement.

But as sister-site CNET reported, Verizon will not be following suit this time, despite AT&T buckling not long after (albeit with some restrictions).

Verizon CFO Fran Shammo told CNET said the company is a "leader, not a follower."

"...There's going to be certain customers who leave us for price, and we are just not going to compete with that because it doesn't make financial sense for us to do that," Shammo said.