T-Mobile Slashes Prices of Unlimited Data Plan but There's a Huge Catch

T-Mobile (TMUS) - Get Report is slashing prices of its unlimited data plan, but there's a huge caveat. The T-Mobile One plan will be priced at $70 a month, down from $95. Video will be played in 480p, unless users purchase an HD-package for $25 per month. T-Mobile One begins September 6 and is the sole plan available for new customers. In response, rival Sprint (S) - Get Report launched an unlimited data plan that starts at $60 for the first line and also streams video in 480p resolution. T-Mobile shares lost 1 percent on Friday. TheStreet's Scott Gamm reports from Wall Street.