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updated 5/20/2011 6:48:35 PM ET 2011-05-20T22:48:35

Verizon will be eliminating its unlimited smartphone data plan this summer in exchange for a series of tiered pricing plans, including a family plan option.

Verizon chief financial officer Fran Shammo announced at the Reuters Global Technology Summit that the company will be moving away from its $30 monthly unlimited smartphone data plan and instead embracing various pricing plans that will require users to pay different fees depending on how much Web access they use.

The pricing plans have not yet been announced, and it's unclear whether or not existing customers up for renewal will be grandfathered in or will be forced to choose a new limited data plan. Verizon is also gearing up to introduce a family plan for data services to help make the new pricing options more feasible for customers.

"I think it's safe to assume that at some point you are going to have mega-plans (for data) and people are going to share that mega-plan based on the number of devices within their family," Shammo said at the conference. "That's just a logical progression."

However, he didn't elaborate when this might become a reality.

Shammo also noted that Verizon will offer the next iPhone model at the same time AT&T releases its version.

Reach TechNewsDaily senior writer Samantha Murphy at smurphy@techmedianetwork.com. Follow her on Twitter @SamMurphy_TMN

© 2012 TechNewsDaily

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