With the introduction of Verizon's 4G data network, LTE, the company plans to return to the old days of tiered data pricing. This would be a relief for customers wallets and data usage. With annoying 5GB data caps on current 'unlimited' data plans this is another pro. Verizon Wireless CEO Lowell McAdam announced tiered pricing at Barclays conference in New york earlier this week. McAdam stated that tiered pricing would make more sense and be more economical for consumers. McAdam said this is due to the number of devices that people would be connecting at once to the network. This would benefit the network by slowing the amount of data traffic and babying customers off unlimited data plans. These unlimited data plans have led to capacity problems for networks like AT&T. McAdam also reviewed the cost savings Verizon Wireless is expected to have from the LTE network. The cost of carrying 1 MB of data over its LTE network would be one half to one third the cost of carrying 1 MB of data on Verizon's current 3G network. McAdam also announced that it will switch to the LTE network in 30 to 40 US metropolitan areas this year and completely switch to the LTE network by 2013. Although access to the network will be confined to mobile datacards and dongles, Verizon is planning on releasing three to five LTE handsets next year. Source