Verizon is announcing a new price lock policy today, and the timing is probably no coincidence. The company is extending a three-year price guarantee on certain plans, both for new and existing customers.

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.