T-Mobile One gives you unlimited data for $70 per month

In what it calls its "12th iconic Un-carrier move", T-Mobile today announces a new plan that removes "the single biggest pain point in wireless" -- limited data. Called T-Mobile One, it gives customers access to unlimited calls, data, and texts for just $70 per month.

T-Mobile One also includes the Simple Global, Mobile Without Borders, Carrier Freedom, Wi-Fi Unleashed, Stock Up and T-Mobile Tuesdays benefits, as well as unlimited tethering. "The era of the data plan is over", says T-Mobile CEO John Legere. "After Un-carrier 12, the wireless industry will never be the same again".

The plan is also targeted at families, with a second line only adding $50 to the monthly cost, for a total of $120. Adding up to six more lines, on top of the first two, will cost an extra $20 per month per line. So, if you have eight lines in your account you will pay $240 per month ($70 for the first, $50 for the second, and $120 for the other six).

From the ninth line onwards, T-Mobile One will cost an additional $30 per month per line. For example, having 10 lines will cost $300 per month ($240 for the first eight and $60 for the remaining two lines). There is a caveat here though.

It is worth noting that all these prices apply to customers with AutoPay enabled. On accounts with automatic payments disabled, users will have to shell out an extra $5 per month per line. So, on a 10-line account, the cost will rise by $50 per month.

T-Mobile One does come with some restrictions on how the unlimited data can be leveraged. When using a smartphone as a hotspot, the traffic is limited to 2G speeds. T-Mobile will give you 5GB of high-speed tethering, but you will need to spend $15 for it.

The base T-Mobile One plan also limits video streams to "standard definition" -- 480p -- so if you want to enjoy high-definition content -- at up to 4K resolution -- you will have to spend an extra $25 per month per line. A four-line account would go up in cost from $160 to $260 with this option enabled on all four lines.

T-Mobile One can also be used on tablets, with customers having to pay $20 per month per tablet. T-Mobile notes that if you only have a tablet on your account you will still pay $70 per month to enjoy unlimited 4G LTE data. Smartwatches and other types of wearables are also welcome, with T-Mobile One costing an additional $5 per month in that case; speeds are, however, limited to 2G levels. Those who have a wearable as their only device on their account will have to shell out $15 per month per line, and are again limited to 2G speeds.

T-Mobile says that T-Mobile One will be available to new postpaid customers starting September 6, and for new prepaid customers "in the future". The plan will also be offered to existing customers, who can choose to upgrade to T-Mobile One or keep their existing plan.

Interestingly enough, Sprint also introduces a similar plan today. Called Unlimited Freedom, it offers pretty much the same thing as T-Mobile One, but at a lower cost in certain cases.

One line with Sprint's Unlimited Freedom is priced at $60 per month. Adding a second one bumps up the price by $40 per month, for $100 in total. Those who need up to 10 lines will pay $30 extra per month per line from the third line onwards. So, for four lines, the total cost will be $160 per month ($60 for the first, $40 for the second, and $60 for the other two).

Sprint's plan is a better-value, at least on paper, if you need to have up to three lines per account. T-Mobile One with four lines costs as much as Unlimited Freedom, at $160 per month, but it gets cheaper as you add up more lines. To have six lines on T-Mobile One you will spend $200 per month, while with Unlimited Freedom you will have to shell out $220 per month.