US telecom giant, Verizon Wireless is set to scrap its unlimited smartphone data plan this summer, according to Fran Shammo, Verizon’s Communications Chief Financial Officer.

While speaking at Reuters Global Technology Summit on Thursday he said that the carrier will scrap its $30-a-month unlimited option and introduce new tiered pricing plans for mobile phone users

AT&T had made a similar move last year and Verizon officials indicate that the carrier will follow soon. Verizon had also introduced a plan with 150MB of data per month for $15 briefly in order to test the market in October.

The carrier is aiming to make the transition easier as it is launching additional options like family plans that allow users to share their data usage in a family.

"We had individual minutes for individual users. Then we eventually got to what we call family share where everyone in the family shares the same minutes,” he said.

“I think it's safe to assume that at some point you are going to have mega-plans (for data) and people are going to share that mega-plan based on the number of devices within their family. That's just a logical progression,” he added.

Verizon has not announced more details about the pricing of the plans.