Verizon cuts Galaxy S5, HTC One (M8), Lumia Icon prices to $99.99 on contract
Verizon has upped its competitive game by reducing the prices of some of today's most formidable flagship smartphones to just $99.99 on a two-year contract. Namely, they are the Samsung Galaxy S5, the HTC One (M8), and the Nokia Lumia Icon. There is a catch, though - apart from signing up for two years, prospective Galaxy S5 owners also have to put in a $50 mail rebate.
Before setting the $99.99 price in stone, Verizon carried both the S5 and the M8 at $199.99 with the option of buying one phone and getting another free - with a contract, of course.
It would be pretty easy, and not necessarily realistic to conclude that Verizon is reacting to pressure after losing subscribers for the first time in its history. In the first quarter of 2014, the USA's largest carrier lost about 138,000 postpaid phone subscribers - an event which analyst Craig Moffett called a "shocking turnaround". Although Verizon posted more than double profits and a 4.8% revenue growth, it cannot be denied that Sprint and T-Mobile's aggressive price cuts and fee eliminations are lighting up the wireless industry in an unprecedented manner.
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