Sprint today announced a new unlimited plan that it says undercuts the competition. The plan, which will be available beginning August 22, provides a single line of service with unlimited talk, text, and data for $60 per month. Sprint claims the offering beats T-Mobile's best price by $20 per month, and that similar options aren't available from AT&T or Verizon Wireless. There is a catch. In order to qualify for the plan, customers need to either bring their own device, pay full retail for a device, or sign up for Sprint's Easy Pay financing plan. The Sprint $60 Unlimited Plan for single lines follows a complete overhaul of Sprint's family share plans, which offer savings to four or more lines of service.