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Sprint this afternoon announced the ‘Sprint Family Share Pack,’ a new shared-data plan that offers double the high-speed data of its two largest competitors, at a cheaper price. The plan, which will become available later this week, will enable customers to have as many as 10 mobile phone lines share 20 gigabytes of data for just $100 a month. More details below…

Here’s an excerpt from the press release:

OVERLAND PARK, Kan. (BUSINESS WIRE), August 18, 2014 – It’s a new day for data in the wireless industry as Sprint (NYSE: S) announces the Sprint Family Share Pack – a new shared-data plan that offers double the high-speed data at a lower price than AT&T and Verizon Wireless.

The Sprint Family Share Pack, offering double the high-speed shareable data for smartphones, basic phones, tablets and mobile broadband devices, will be available starting Aug. 22. For example you can get four lines and 20GB of data for $160 compared to 10GB of data for the same price from AT&T or Verizon.

But wait, there’s more. To kick off Sprint’s “new day for data” campaign, Sprint is offering a limited-time promotion for the Sprint Family Share Pack: For a family with up to 10 lines, get 20GB of Shared Data and Unlimited Talk & Text for only $100 a month through 2015 – and, as an added bonus, customers will get an additional 2GB per line for up to 10 lines. For a family of four, that’s a savings of $60 per month better than AT&T’s and Verizon’s current pricing through 2015; double the data of Verizon; and more than double the high-speed data of AT&T and T-Mobile.

And here’s an example of a plan breakdown:

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Additionally, Sprint says for a limited time, customers who bring their number over to Sprint and activate one of these new Family Share Pack plans will receive a Visa Prepaid Card worth up to $350 to cancel out their previous carrier contracts. It’s also offering to waive data access charges for handsets, tablets and mobile broadband devices through next year.

I found a few interesting things with this announcement. For one, the term ‘Framily‘ wasn’t mentioned once in the press release, so here’s hoping they decided to kill that brand. Two, the new plan sounds very enticing, but it seems like Sprint intentionally buried important details—the prices listed are available for a limited time only, and very conditional.

Anyway, it’s a noteworthy move by Sprint—who just pulled out of its bid for T-Mobile and fired its long-time CEO Dan Hesse earlier this month—and comes at a time when high-speed wireless data allowance is a hot topic. It’s probably worth looking into for those trying to save money, just make sure that Sprint offers decent high-speed coverage in your area.

The new Sprint Family Share Pack plan launches this Friday.