Update April 22, 2015: A few weeks ago, I told you about rumors that Google would soon launch its own affordable wireless service called Google Fi. Well, now it's official. The company has formally announced the new venture, and the prices are as good as anticipated.
As expected, Google hasn't created its own cellular network. Instead it will rely on Sprint and T-Mobile's existing infrastructure. Phones using Google Fi will automatically switch to whichever network has a stronger signal in your location. Google Fi will also use Wi-FI to channel calls and data whenever possible.
Fi will be available in most cities across the country, and customers will pay a base price of $20 per month. That's not a lot of money, especially when you look at what's included. That base price includes talk, text, Wi-Fi tethering and international coverage in over 120 countries. Users will also pay $10 per month for gigabyte of data they use.
If that cheap price tag isn't enough, there are even more ways Google could save you money. It will be refunding you for unused data. So, if you pay $20 per month for 2 GB of data, you can expect to receive a credit if you only use 1.5 GB in a particular month.
There is a catch that will keep many people from signing up to Google Fi for now. It will only work with Nexus 6 smartphones right now and customers must receive an invitation to join.