Does Verizon Own Tracfone in 2024? (All You Need to Know)

ByCharles Scott Last Update on

As an expert on the U.S. wireless market, I am often asked: Does Verizon own Tracfone? This is an important question since Verizon leads the industry with over 150 million subscribers, while Tracfone serves over 20 million lower-income consumers.

In November 2021, Verizon announced its official acquisition of Tracfone for $6.9 billion in cash and Verizon stock. Let‘s analyze why Verizon made this major investment and what it means for Tracfone customers.

Why Did Verizon Want to Acquire Tracfone?

Verizon has been the largest U.S. wireless carrier for many years now. According to Statista, Verizon holds 31% market share based on retail subscribers.


*Source: Statista*

Tracfone serves over 21 million prepaid subscribers, primarily lower-income Americans. As the following table shows, Tracfone offers affordable rates but less data than Verizon‘s premium plans:

CarrierIndividual Plan PriceDataTalk & TextTerm
Verizon Prepaid$4015GBUnlimitedMonthly
Tracfone (30 Days)$20500 MB200 mins30 days

By acquiring Tracfone and its several prepaid brands, Verizon gained access to valuable new market segments in one move. Prepaid cell phone services are also growing faster recently as more consumer look to cut costs.

How Will the Transition Unfold? What‘s Next?

The transition of Tracfone‘s 8 million non-Verizon users to Verizon‘s network has already begun. By mid-2023, Verizon claims all customers will have 4G LTE access and 5G migration plans will ramp up.

Tracfone customers needing new devices will be eligible for Verizon‘s device payment programs. Verizon also plans to keep the Tracfone brand and retail stores. Prepaid clients will not need Verizon contracts. However over time, we may see enhanced integration.

What Are the Benefits for Tracfone Customers Now?

All Tracfone subscribers now have the Verizon 4G LTE network with excellent nationwide coverage. Speed upgrades are rolling out as customers transition or upgrade devices. By 2024, most should have access to speedy Verizon 5G as well.

Some improved features unlocked by the acquisition include:

  • Faster LTE and 5G data speeds
  • Mobile hotspot support
  • International talk & text
  • Access to Verizon‘s new phone discount and upgrade programs

In summary, Verizon‘s acquisition of Tracfone expands their market reach by absorbing 20+ million value-focused subscribers. The deal enhances Tracfone‘s network quality and features as well. So Verizon does own Tracfone as of late 2021 when the $6.9 billion deal finalized.

Charles Scott is a dynamic professional whose academic and career achievements demonstrate a strong commitment to excellence in the retail and consumer service industry. Graduating with an MBA from New York University in 2013, Charles has built a diverse and impressive career portfolio. He has held significant roles as a manager, advisor, and marketer, showcasing his multifaceted skills and deep understanding of the industry.

Beyond his direct professional engagements, Charles has made a notable mark as the head writer and founder of ExpertBeacon.com. This platform stands as a testament to his dedication to consumer empowerment and education. ExpertBeacon.com is a resource designed to assist consumers in addressing their persistent questions about products, services, and companies. Under Charles's leadership, the site provides in-depth, well-researched, and accurate information, all structured in easy-to-follow guides and articles. His work here not only highlights his expertise in the field but also his commitment to providing valuable, actionable information to the public.

Charles's approach is centered on a keen understanding of consumer needs and market dynamics, making him a respected voice in the industry. His contributions through ExpertBeacon.com and his professional roles reflect a blend of strategic thinking, practical knowledge, and a genuine desire to enhance consumer experiences in the retail and consumer service sectors.

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