T-Mobile Reduces Home Internet Price By 17%

T-Mobile U.S. Inc TMUS slashed the price of its new 5G wireless home broadband service by 17% to win more internet customers from cable and phone companies.
The new price is $50 a month, down $10. The six-month-old service is available to over 30 million homes, just a fraction of the U.S. total.
Last month, Verizon Communications Inc VZ offered a $200 credit to new customers for its $70 a month 5G home internet service, Bloomberg reports.
The price cuts in the rollout of new 5G wireless services highlight the challenges of displacing reputed phone and cable companies.
About 106 million subscribers get broadband from cable and phone companies at an average cost of $65 a month.
The price promotions follow weaker sign-ups for internet service in late summer. The demand for broadband access surged around the U.S. through mid-2021 due to the pandemic triggered remote working and learning.
Price Action: TMUS shares closed lower by 0.05% at $125.40 on Tuesday.