If you have a family, paying a monthly smartphone fee for each individual can cost an outrageous amount of money. We had thought Verizon family share plans would be here already, and now Verizon CFO Fran Shammo unveiled that they should launch by mid-year. This was revealed during an investors conference today, yet they’ve neglected to let us know projected plan prices.

Shammo disclosed that Verizon had been contemplating family data plans for the past year, and they were tying to determine if they would be profitable for the company. But as you all know, when Big Red finally initiates them, families will flock from all over so they can take advantage of their 4G LTE network at an affordable price.

Now, this doesn’t necessarily mean every Verizon customer can instantly switch over to their family share plan on a specific date and time. He stated this would be a rather long-term migration but will definitely commence midway through the year. Shammo didn’t reveal much more information on the plans, but when it hits, it will benefit both Verizon and its customers.

[via SlashGear]