Verizon announces free offers for customers after major loss | Official Website of Louis Velazquez, entrepreneur, finance guy and tech innovator

A little over a month ago, Verizon welcomed a new CEO, and significant changes are underway as the phone carrier sees an influx of loyal customers canceling their phone services following the implementation of recent price hikes.

In Verizon’s third-quarter earnings report for 2025, it revealed a net loss of 7,000 postpaid phone customers during the quarter, as churn reached 0.91%. This raises alarm bells, since during the same quarter in 2024, the phone carrier welcomed 18,000 postpaid phone customers.

During an earnings call last month, Dan Schulman, who became CEO of Verizon on Oct. 6, said price increases are contributing to the company’s decline, along with friction in the customer experience, negative value perception, and intense competition in the telecom industry.

“For the past few years, our financial growth has relied too heavily on price increases, a strategic approach that relies too much on price without subscriber growth is not a sustainable strategy,” said Schulman. “Every year, it gets harder to grow as we lap past price increases and experience higher churn. This cannot continue, and there is no question that meaningful change is needed.”

Schulman’s comments follow a recent survey from WhistleOut, which found that many Americans are drafting escape plans after their phone carrier recently increased their monthly bill.

Verizon CEO Dan Schulman says price increases are contributing to the company’s decline.

Image source&colon; Mordant/Bloomberg via Getty Images

How higher phone bills are impacting Americans:

The average cost of an unlimited data plan for American families is $244 a month.
About 42% of Verizon, T-Mobile, and AT&T customers have seen their phone bills increase in the past year, which is 7% higher than average.
Also, 58% of Verizon, T-Mobile, and AT&T customers are considering switching to a different phone carrier as prices rise.
All three phone carriers risk losing a combined 230 million customers due to high mobile plan pricing. Source: WhistleOut

“You can build the best 5G network in the world, but if the customer feels prices are going up and it’s a headache, people are going to leave,” said RTMNexus CEO Dominick Miserandino in a statement to TheStreet.

Verizon launches wild new holiday deals to win back customers

To help combat this growing trend, Verizon has just announced several bold deals on phones, tablets and watches, with no trade-in required to attract and retain customers just in time for the holiday season.

Verizon is offering a free iPhone 17 with a new line on any myPlan account. Customers can also receive an Apple Watch Series 11 and iPad (A16) for free with a connected device plan, according to a recent press release.

For Samsung users, Verizon now offers a free Samsung Galaxy S25 with a new line on any myPlan account. With a connected device plan, customers can also snag a Galaxy Watch8 and Galaxy Tab S10 FE 5G free of charge.

Additionally, with a new line on any myPlan account, customers can receive a complimentary Google Pixel 10. If they add a connected device plan, they can get a Pixel Watch 4 and a Samsung Galaxy Tab S10 FE 5G for free.

Customers who add a new line on an Unlimited Ultimate plan have the option to get a free Motorola Razr. Also, with a connected device plan, they can receive $75 off a Gizmo Watch 3 or Gizmo Watch 3 Adventure.

Verizon is even inviting AT&T and T-Mobile customers to bring their phone bills into its stores to compare savings.

The free phone offers come during a time when many Americans are holding onto their smartphones for a longer period of time, as new phones become increasingly expensive.

How Americans plan to upgrade phones:

The average American pays $634.35 for their phone. This is significantly less than the current retail prices of the latest premium phones, which are over $1,000.
The average American keeps their phone for roughly two years and five months.
On average, Americans want to upgrade their phone in 16 months, while only 29% plan to upgrade their phone in the next 6 to 12 months.
Only around 6% of Americans are willing to upgrade their phone due to a trade-in deal or a better contract option. Source: Reviews.org

In addition to free phone offers, Verizon also launched several discounts for audio accessories, such as $100 off Beats Studio Pro, $80 off JBL Charge 6, and more.

New Verizon home internet customers can also receive either a free Samsung 43″ Class Q7F QLED TV, Samsung Galaxy Tab S10 FE 5G or a Nintendo Switch with select home internet plans.

Verizon’s new CEO recently vowed to transform the company

The move from Verizon comes after Schulman said during the company’s earnings call in October that the phone carrier will undergo a “transformation” focused on innovation and building customer loyalty.

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“This is not going to be about promotional activities that can be quickly imitated,” said Schulman. “It is about true innovation, not easily replicated by our competitors.”

In a recent analyst note, Morningstar analyst Michael Hodel wrote that despite Schulman’s efforts to fix alarming customer behavior, Verizon is still expected to fall behind its competitors.

“Wireless competitive intensity has increased recently, but we expect Verizon and its two primary wireless rivals, T-Mobile and AT&T, to compete rationally in the coming years,” said Hodel. “That said, we expect Verizon to struggle to grow as fast as its rivals, even with new CEO Dan Schulman’s pledge to focus more intently on customer satisfaction than in the past.”