"Everyone who wants a smartphone has one," said independent technology analyst Jeff Kagan. "Now we're seeing carriers battle with to win each other's smartphone users."
For the next wave of wireless industry transformation, said Kagan, that's going to mean competing on quality, customer service, and price.
(Read more: AT&T cuts wireless data charges for individuals)
The most recent round of arrows flew Saturday when T-Mobile announced it was doubling the data for customers on its "Simple Choice" plans without increasing the prices. The next day, AT&T responded by cutting the price on its "Share Value plan" by $15.
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To sweeten the deal and help it poach more customers, T-Mobile has offered to pay customer's early termination fees if they leave their carrier, no contract required. AT&T is also not requiring a two-year agreement on its comparable plan.
So between the "Unlimited" data plans Sprint has out, and Verizon's "More Everything" plans unveiled last month, where's the best place to go?
The below chart looks at a price-conscious consumer who wants unlimited talk and text, uses the average amount of data—about 1GB—and doesn't want to pay more than $70, around what T-Mobile and AT&T have on offer.