Verizon will no longer continue with unlimited Data plan

Verizon CFO Fran Shammo told investors today that Verizon Wireless will be moving to tiered data plans as early as this summer, Verizon iPhone users are no longer avail to unlimited plan they had enjoyed since Apple’s smartphone came to the network last month.

Earlier the iPhone 4 was launched with a $30 monthly plan that include unlimited smartphone Data and previously it also offered a $15/150 MB plan that appealed to some customers, but this plan was removed when the iPhone 4 launched.

Verizon currently has 25% smartphone penetration and hopes to use these low-cost data plans to boost that rate to 50% by the end of 2011. For now Shammo would not confirm the price of these tiered plans as the entry level price point is still under discussion.