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Cisco CEO predicts cost for data on smartphones will drastically decrease

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Is there any more annoying cost out there than the cost of data on smartphones? A decade ago the public would have laughed at the potential to be paying over $100 per month for one individual to own a cell phone. Now, that is exactly what you'll find with the majority of U.S. postpaid carriers.

Good news may be on the horizon though, as Cisco CEO John Chambers recently revealed his thoughts on the potential change in the industry. According to AllThingsD, Chambers told the All Things Digital conference Wednesday that new advancements in wireless transport are going to allow wireless carriers to drastically lower their prices on smartphone data.

The reason for this change will be due to expansions in Wi-Fi capabilities, helping to soak up increasing traffic from mobile devices in the future.

Chambers said "Price points are going to come down rapidly. Transport will become free... Architectures will change. With intelligence throughout the network, the network will become the platform of the future."

He also noted that his company's technology will allow carriers to unload data onto unlicensed spectrum, opening up the potential to save a lot of money.

While nothing is set in stone, this is surely good news to every American family with teenagers begging them for the brand new iPhone or Samsung Galaxy devices. Parents may no longer need to be afraid of the potential astronomical bills after all.