Verizon Wireless said on Friday that the company is raising its prices for data services like mobile Web surfing to increase revenue and profits.

The venture of Verizon Communications Inc and Vodafone Group Plc said that instead of a $19.99 service plan for 75 megabytes of data downloads, it will now offer a $9.99 per month plan which caps data use at 25 megabytes of downloads.

The company also announced an unlimited talking and text, video and picture messaging plan for $89.99 a month.

The move comes as Verizon and its rivals look for ways to ease pressure on their data networks as the growing popularity of Internet capable phones increases demands on data services.

(Reporting by Sinead Carew, editing by Gerald E. McCormick)