Verizon announced its Fios Gigabit Connection for $69.99 a month for new customers. Although the new service is billed as "gigabit," the actual speeds are listed as "as fast as 940 Mbps and uploads as fast as 880 Mbps."
Existing customers who want to upgrade to Fios Gigabit Connection will be able to do so at the end of this month. Customers with the older, more expensive 750 Mbps/750 Mbps Instant Internet service will soon automatically receive the new higher speeds and see a reduction in their bills, as well. Verizon did not elaborate on how much of a discount existing customers would receive.
Ken Dixon, president of Verizon’s consumer wireline business stated:
Everyone deserves the fastest Internet available. No cable provider comes close to offering the speeds and power of Fios Gigabit connection on this kind of scale. And we’ve priced it so that millions can enjoy it.
In areas where Fios Gigabit Connection service is available, Verizon now offers two tiers of standalone Internet service: 50 Mbps for $39.99 a month and the new Gigabit Connection for $69.99 a month when ordered online. The catch of course is that you must live in an area that offers Fios Gigabit Connection service. Fios customers in other areas will still be stuck with 300/300Mbps or 500/500Mbps plans that cost $79.99 and $179.99, respectively.