The Wrong iPhone 8 Plan Could Cost You More Than $900, Says Study

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Eric Lieberman Managing Editor
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The newly announced iPhone 8 and iPhone 8 Plus are set to start shipping Friday and there are substantial differences in pricing options, according to a WalletHub study released Wednesday.

Depending on which company a prospective customer usually does business with, an individual that wants the new iPhone can save up to $917 by choosing a no-contract deal from Walmart Family Mobile, the retail giant’s wireless service arm. Verizon and T-Mobile, as examples, charge more than $2,400, and $2,300, respectively, for their no-contract plans (when accounting for two years, like Walmart). The iPhone 8 will cost $699, and iPhone 8 Plus $799, meaning that forgoing certain installment plans, or shying away from some of the typical carriers, can save a person more than the cost of the smartphone.

Seventy-four percent of people, in general, don’t plan on buying the new iPhone. Only one in 50 people would pay $1,000 for a new phone, reports WalletHub, meaning that Apple’s nearly $1,000 iPhone X may not attract as many consumers as expected.

Apple CEO Tim Cook said Tuesday that the iPhone X is “a value price, actually” after being asked if it was too expensive for “the average American.” (RELATED: Here Are All The Important Things You Could Buy Instead Of The iPhone X)

“Apple has never been about selling the most of anything. That is not our objective. Our objectives are not big revenues,” Cook said. “Our objective is to make the best product that enriches people’s lives. We want to help people.”

Some people, however, seem very willing, if not eager, to buy one of the recently created mobile devices. Roughly one in three Americans prefer having a new iPhone than a higher, healthier credit score, according to WalletHub.

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