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Technology

AT&T Inc (T) Dumps Overage Charges By Announcing New Mobile Share Advantage Plans

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AT&T continues to battle in the carriers war field by saying good bye to its overage charges, making its customers happy

AT&T Inc. (NYSE:T) has now announced new Mobile Share Advantage plans as a part of its postpaid policy, leading to bumped subscription rates and data caps across the board. The new plans are expected to provide it with an edge over its competitor, Verizon Communications Inc. (NYSE:VZ). With these plans, the customers would no longer be charged once they have topped their data limit, giving them the ease of getting rid of what they refer to as annoying charges.

With these plans, the telecommunication company attempted to simplify its pricing, to eliminate overage charges for their wireless consumers. The plans would be available for use from August 21. The consumers can omit the overage charges at the price of getting lower speed of 128Kbps for the rest of the month, once the data limit has reached. This usage would be limited for some selected basic apps, whereas the usage of other apps might be hampered by reaching the data limit. The plans also have all the old value added benefits included in them.

Furthermore, these plans offer a number of choices and start at 1GB, going all the way up to 200GB. The least expensive plan is offered at $30 a month, which is $10 more than the previous one. However, the good part is that it gets you 700MB more data alongside unlimited calls and messages to US. Plans with higher data also have unlimited texts and calls to Mexico without any added roaming charges. Additionally, increasing the number of devices to a plan now costs $20 across the board.

The $251.18 billion company also revised its 25GB and higher plans. It offers the 25GB plan for four lines at $190 per month compared to $235 earlier. Similarly the 30GB plan is now for $215/month compared to $285 earlier. For users looking for more data, they have plans up to 100 GB. 

Moreover, the Texas-based company has also simplified the access charges for basics phone lines and smartphones. For smartphones without an annual contract, the access fees is fixed at $20/month and per smartphone line charges are $15 for one month. The access charges for basic phones line are also fixed at $20 per phone on a monthly basis.

Following these plan announcements, the shares have risen in the market. AT&T is trading up 21.65% year-to-date through Wednesday. Analysts of FactSet Fundamentals have declared the stock as bullish and have provided 14 Buy, two Overweight, 13 Hold, and one Sell ratings on the stock. The one-year average price target is reiterated at $44.13, an increment of $2.27 over the last closing price.

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