The “Un-Carrier”, the Magenta company, the company that swallowed Sprint; T-Mobile goes by many names, and one of them is the “Cheaper company.” T-Mobile’s prices usually undercut those of AT&T and Verizon. Be that as it may, T-Mobile may increase the price of its older plans.
Unfortunately, the price to keep your smartphone service is going up. This is true for pretty much all of the major carriers. However, T-Mobile still charges below the competition in terms of price. This, coupled with the company’s superior coverage, makes it a fan favorite for many users. While this is the case, the company has still seen some pricing increases over the past couple of years.
Also, not too long ago, T-Mobile introduced some additional fees targeted at customers. It included a SIM activation fee that would charge users $20 to activate their SIM card.
T-Mobile could increase the price of its older plans
T-Mobile just posted its Q1 2024 earnings report. It was filled with some good news and some bad news. The good news is that the company was able to bring in 532,000 new postpaid phone subscribers in the first three months of the year. That’s a good figure, and it was more than what the analysts predicted. The icing on the cake is the fact that the company recorded a record-low subscriber churn.
Talking numbers, T-Mobile was able to pull in $7.6 billion in earnings. That’s an 8% increase over the same quarter last year, and it was still able to beat analysts’ predictions.
However, things aren’t all rosy at T-Mobile. The company clocked a year-over-year revenue of $19.59 billion. That’s actually down compared to last year. As such, T-Mobile will have to make some changes… and raise some prices.
T-Mobile CEO, Mike Sievert, stated that there may be some changes to older rate plans. “… I think customers understand that if there are changes around the margins once every many years in a world where costs change, they’ll understand and accept that. We’ve actually made changes here and there over the past six months. We’ve understood what that looks like and what that takes. And there may be more changes, particularly with older rate plans.”
As for what changes there will be, we have no idea.
We may find out next month
Deutsche Bank analyst Bryan Kraft stated in a post that T-Mobile may announce the changes as early as next month. Seeing as it’s currently the end of April, we should expect the announcement relatively soon.
As for when the price actually goes up, that could probably happen sometime in June. So, people using older T-Mobile plans might want to prepare for some new prices.
