A Verizon spokesperson told Engadget that the price hike is to "help cover increased cost to provide customers with America's largest and fastest 4G LTE network." But the company's most recent earnings reports show that its capital expenditures have actually dropped in the past year, making that explanation seem unlikely.

Last week, Verizon also got rid of two-year contract renewals, meaning those subscribers still on two-year plans can no longer stay on them when their agreements are up. Verizon, along with most of the industry, already eliminated two-year plans and the device subsidies that came with them. As smartphones become more affordable, it looks like maintaining the lines for them on your wireless service providers may be getting more expensive.