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Why Verizon needs to stop offering unlimited data

@CNNMoneyTech June 21, 2011: 1:13 PM ET

(CNNMoney) -- This post first appeared in CNNMoney's Tech Tumblr.

Wonder why unlimited data plans are going the way of disco? Verizon's (VZ, Fortune 500) plan to scrap theirs in July is just the latest move.

Mobile Internet usage is exploding. In just 4 years, global mobile data traffic will grow by more than 11-fold to 6.2 million terabytes per month, according to Cisco (CSCO, Fortune 500).

Meanwhile, it's costing carriers $50 billion each year to upgrade their networks in an attempt to meet customers' demand for more mobile data.

That cost is getting passed on to you. (It's so kind of you to pick up your wireless company's tab!) To top of page

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