Verizon will freeze rates for a broad swath of its customers in a bid to hold onto cellphone users irked by years of price hikes. The telecom company said Thursday that subscribers on its myPlan and myHome bundles will automatically gain a price-lock guarantee for three years.

The wireless carrier said today that it's introducing an "industry-leading guarantee: a 3-year price lock." Under this promotion, myPlan and myHome network plan customers, both current and new, will have their rates locked in for the next three years. About half of the company's customers are on myPlan, meaning this change will affect many people.

Starting Thursday, Verizon is implementing a three-year price lock on its MyPlan mobile and HomePlan home internet accounts. The price lock applies automatically to all customers; it's not a program requiring a separate enrollment or contract.