Verizon Reinvents Prepaid Plans to Strengthen Market Position
As competition in the prepaid wireless sector intensifies, Verizon has embarked on a renewed strategy to enhance its prepaid offerings. With the introduction of new plans, the telecom giant aims to not only boost its financial performance in the upcoming quarters but also carve a larger share of the market amidst challenging rivals.
After a period of underperformance in Verizon's prepaid division, a turnaround began with the appointment of Nancy Clark as President of Verizon Value, alongside a new leadership team including Kim.
Verizon recently reported a positive trend in net additions of prepaid customers—excluding SafeLink—for the first time since acquiring TracFone. Despite this, the company recognizes that competition remains exceedingly fierce, and it anticipates increased pressures from rivals going forward. Kim projects growth in prepaid revenues in the latter half of 2025 as a result of several pivotal internal changes. These include strategic investments in staff and technology, as well as addressing customer concerns around issues like data throttling. Plans such as Total Wireless now offer premium network access with no slowdowns.
Furthermore, Kim's team is collaborating with manufacturers to keep device prices affordable, understanding that many prepaid users utilize their phones as their primary means of internet access. Verizon is enhancing its retail presence for Total Wireless by opening hundreds of stores, as research revealed that many customers perceived Total by Verizon merely as a plan, not recognizing it as an independent service. The rebranding initiative to Total Wireless seeks to rectify this perception. Kim refers to it as Verizon's "fighter brand," uniquely designed to compete against players like Metro and Boost.
Total Wireless is what I like to call kind of our fighter brand. It’s a brand that’s situated to compete against Cricket, Metro and Boost. That’s really the spirit behind that brand.
