Sprint is raising the price of its unlimited data plan to $70 per month, up from the $60 price that's been in place for the past year. Existing customers will be able to keep the current rate, but new customers will begin paying more as of October 16th. Key terms of the deal remain the same, including the fact that Sprint may limit download speeds to prioritize people on capped data plans.

Though Sprint continues to offer its unlimited plan for competitive reasons — AT&T and Verizon don't offer one, and T-Mobile offers one that's $80 per month — it clearly isn't a big fan of it. Tiered data plans are likely to be a more profitable option, and they necessarily limit stress on a carrier's network. Sprint has even said that unlimited data is on its way out: in July, Sprint CEO Marcelo Claure said that the carrier would begin raising prices on its unlimited plan and nudging customers over toward capped options. Selling unlimited data plans may simply be unsustainable for Sprint, he suggested, especially as we begin to stream more and more content to our phones.

Update September 30th, 3:30PM ET: Sprint has updated its press release to remove the note about limiting video download speeds; it previously tried to implement a video streaming cap on other data plans, but quickly removed them due to "customer feedback."