Verizon launches its first 5G hotspot for $650

Verizon has announced its latest 5G device — a long anticipated 5G hotspot, the Inseego 5G MiFi M1000. But the 5G MiFi M1000 is the latest proof that 5G isn’t going to be cheap: the hotspot alone is set to cost $649.99, before you factor in the monthly cost of data.

That’s a big jump: the company’s current high-end LTE hotspot, the Jetpack MiFi 8800L, costs less than a third of that at $199.99. Verirzon is offering a few ways to make that price sting a bit less, like a 24-month installment plan that just divides the cost into $27.08 per month chunks, or a two-year service contract that knocks the price down to $499.99.

Unsurprisingly, data is also more expensive: 5G data is only offered with Verizon’s…

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