There will still be 5GB, small, medium and large data plans if you don't need that much capacity, Verizon says. You can tack on $5 per month for smartwatches and other connected devices, and a $10 per day TravelPass gets you 500MB of daily full-speed data outside of North America.

It seems like an odd move for a provider which has frequently tried its hardest to discourage unlimited data users and shift them to capped plans. However, it's not hard to see why Verizon would suddenly welcome unfettered access with open arms. It's facing stiff competition from T-Mobile, which engineered a dramatic comeback in recent years and upped the ante by making unlimited data standard through the One plan. Sprint's own unlimited data focus hasn't helped, either. Combine those with disappointing subscriber growth in the fourth quarter and there's good reason to be concerned. Verizon might not be facing an immediate crisis, but it doesn't want to drive any more customers to a fast-growing rival.

Update: Verizon wants to stress that your data traffic will be lower priority if you cross that 22GB limit, not that you'll be throttled. That still amounts to the potential for slower speeds -- you just won't be stuck at those slow speeds until your next billing cycle. You can read the full statement below.