Verizon isn't prioritizing a feature that customers are eager for.

According to The Wall Street Journal, Verizon's new Chief Executive Officer, Daniel Schulman, intends to change the company's focus from network superiority to prioritizing its customer base. However, this does not indicate that prices will be reduced in the near future.

Verizon's higher prices were acceptable when it had a distinct advantage over competitors. Now that its lead has diminished, it can no longer afford to charge more than other companies. The company believed that high-value customers would compensate for losses caused by price increases.

However, after three consecutive quarters of declines, Verizon realizes it can no longer afford to lose subscribers. In addition to AT&T and T-Mobile, the carrier faces competition from cable companies offering affordable plans. While Schulman recognizes the source of the company's challenges, his hesitancy to lower prices could result in further customer losses.

Presently, Verizon faces three major issues: its network leadership is no longer unchallenged, customer service has declined, and prices are too high. Schulman may be acting wisely by initially focusing on improving the perceived value rather than immediately cutting prices. Verizon has recently introduced several promotions to attract customers, but whether these efforts can offset high prices is still uncertain.