Verizon today unveiled its 5G hotspot device. The Inseego 5G MiFi M1000 isn’t going to be cheap by any stretch of the imagination. Mobile 5G networks are still in the early stages so that understandable. Still, it’s going to cost a pretty penny once you factor in the cost of monthly data over and above the price tag of Verizon’s first 5G hotspot.
Verizon is selling the Inseego 5G MiFi M1000 for $649.99 and that’s before the cost of monthly data. For comparison, the Jetpack MiFi 8800L, Verizon’s high-end LTE hotspot, only costs $199.99.
Since most customers won’t be buying the hotspot outright, Verizon is going to offer it on a 24 month installment plan which brings down the cost to $27.08 per month. If they opt for a two year service contract the price comes down to $499.99.
Verizon subscribers can only get 5G data on the unlimited plan which starts at $90 per month. This provides them with 50GB of 5G data per month which gets throttled down to 3Mbps once the limit is reached. 15GB of LTE data is then offered which is throttled to 600Kbps once that limit is reached as well. Verizon does point out that only downloads are at 5G speeds right now. Uploads are still being done over LTE but they won’t count towards the 15GB limit.
Those who already have a Verizon unlimited plan for smartphone can get service for the hotspot after purchasing it for $30 per month. It gives them the same amount of data. 5G service will obviously only be available in the handful of cities where Verizon has launched the service so far.