In an effort to take back third place from T-Mobile USA, Sprint has announced a new Family Share Plan with 12 GB of data for $90 per month.

The deal undercuts Sprint's competitors Verizon, AT&T and T-Mobile, which is starting to become normal for the U.S. carrier as it attempts to win back customers.

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Each line will only have to pay $15 instead of $25. The comes to $150 per month for four lines on the new Family Share Plan. It's not clear if Sprint will make a profit from this venture or if the plan is to win over customers and draw them to more lucrative contracts.

The data access charge will be dropped to $15 for all contracts above 12 GB as well, meaning families can afford more data than ever before on Sprint.

To make the deal even sweeter, all new customers will get the first year of data access charge waived on all plans over 12 GB. It's an excellent plan for any family looking for a cheap wireless plan with a ton of data.

The new promotions and deals follow a change in leadership that brought in the founder of Brightstar, Marcelo Claure. The new CEO believes he can cut Verizon and AT&T's plans "in half" and will bring Sprint back to success.

Even though the new plans are working to some degree, T-Mobile and AT&T continue to grow at a rapid rate. Both added eight million subscribers in 2014 to Verizon's five million and Sprint's two million.

Claure will need to work on customer support and spectrum investment if it actually wants to compete for the top spot again since these are two areas where Sprint's a lot weak compared to the competition.

There is also the worry amongst Sprint investors that cutting prices for plans will significantly limit profits in the long term. This could remove the possibility of acquiring spectrum and investing in new technologies.

TagsSprint, Family Share Plan, U.S. carriers