Verizon Wireless feeling heat of competition, cuts data prices

Verizon might be feeling the heat of competition, as it announced some new, cheaper pricing options. Verizon's 1, 2, 3, 4, and 6GB shared data plans are all dropping $10 a month to $30, $40, $50, $60, and $70 per month, respectively. The company's 8GB shared data plan is dropping $5 a month, from $90 to $85. Verizon's also offering a 500MB plan for $20 a month. Verizon says these are promotional rates, so the discounts could disappear, but the company did not say when.