Most Phones Now Cost Over S$1,000. Here's How to Get One on a Monthly Budget

‘Flagship’ means top-of-the-line, premium phones. Back in the day, using a card for one would be a “market-rate” amount, but with a flagship device frequently priced from S$1,899 this can be one of the bigger single-item expenses in your personal budget. If your cash is better used in a high-yield savings account or investment rather than acquired hardware, then there’s little point in paying a sticker price for a new phone today.

High-End Technology and Market Dynamics Drive Prices Upward 

The average selling price of a mobile in Singapore has increased nearly 12% over the last 3 years. In addition, over two-thirds of all phones now sold in Singapore cost more than S$1,000 compared to just over half 3 years ago.

The prices are due to a range of structural changes to the technology sector, such as powerful chip sets optimized to operate AI and multiple lens camera systems, increased component manufacturing costs, and high inflation. As the number of desktop-grade hardware increases, vase prices keep increasing. 

What did Your Current Phone Actually Cost You?

Think back to your last purchase receipt or credit card statement. Did you pay S$1,899 in cash? Did you get a 24-month telco plan with a high monthly payment that included the hidden device cost?

How much a user spends on a device over time is largely forgotten by most. For example, when you break down the headline device cost, device bills, and a lock-in contract, it costs more than most think to have the latest device.

Option 1: Buy New Outright

You take home the entire physical asset and is yours to own immediately, without having to commit to a monthly device payment plan. The obvious trade-off is you took out cash immediately. Sinking S$1,899 in one tech item means losing that capital you can’t even use for work or investment. Additionally, the asset depreciates as soon as you buy it.

Option 2:Buy Second-Hand

The cost is less than a new device. You’ll miss out on the early depreciation of the latest device and can pick up a previous generation flagship at a substantially lower price.

However, second-hand shopping comes with hidden risks. Batteries are often less robust, chemical efficiency is less, and damage repair from previous owners may be difficult to detect. You have a limited manufacturer warranty, so if the motherboard or display fails, you’re on your own financially.

Option 3: Keep the Phone You Have

The lower-cost routine in the near-term. S$0 in new hardware costs and you can run a SIM-only mobile plan to reduce your monthly bill.

The cost comes when the device passes its second or third year. The capacity of the battery declines, updates to the operating system are more infrequent or unavailable, and newer applications take longer to load. Repair prices for screen and battery replacements approach at the end of sale value.

Option 4: Subscribe

When you subscribe, hardware becomes a service. You don’t pay S$1,899 to own the device. You pay a reasonable, fixed amount every month for use of the device. 

This plan connects your mobile cost to your real consumption. You don’t face any large initial investment, you have a fixed total monthly payment, and you don’t need to deal with depreciation on existing devices or try to sell them when you want a new model.

Owning: Keep or Sell a Phone

Purchasing a phone results in owning a monthly depreciating physical device. Two years down the line, a flagship phone will have depreciated significantly and be worth a small proportion of its retail cost. 

To get back any capital, you’d need to take photos, list it on peer-to-peer sites, filter through low-ball offers, arrange meetings, or accept lower trade-in quotes from dealers. If you simply store the device as a spare in a drawer, however, your monetary return will eventually diminish to zero, and the battery will degrade over time.

Subscribing: Return It when the Term Ends

However, if you subscribe to a device through a service such as Cinch, you won't have to worry about what to do with your device after your subscription term is over. You can simply send it back to your provider. 

No more marketplace postings, bargaining, or getting a low trade-in. You simply pay for exactly the amount of time you used the hardware, no need to worry about holding ownership of the assets.

Step 1: Set What Feels Comfortable Each Month

Begin your buying process by selecting a monthly payment that can be smoothly paid into your total cash flow. Identify a monthly plan of whatever S$40, S$70, or S$100/month budget that you can adhere to consistently. This can help you select the right type of device.

Step 2: Choose iPhone or Android and How Much Storage You Need 

• Operating System: Choose iOS for an interconnected ecosystem or Android for customisation and hardware options. 

• Consider How Much Storage You’ll Use: Estimate your consumption and lean on cloud backup if you’re close to a baseline 128GB or 256GB tier. 

Step 3: See Which Phones Fit

When you’ve established your criteria, the Cinch phone finder allows you to rapidly narrow down options within your spending range. All prices listed on the finder include Cinch Plus. Your monthly price encompasses both the hardware access and built-in features that comes with it, no line-items and add-ons just for checkout. 

Step 4: Lower the Monthly with Trade-In

Use the value of your old device as a trade-in to offset future expenses. The estimated value of your old device is deducted from your monthly recurring charge, reducing the price point for premium devices to a lower budget tier.

Choose You Term: 3, 6, 12, or 24 Months

To add a device on your Cinch device subscription you select a fixed term that corresponds to your device:

• 3 months: Short-term projects, business trips, and evaluating new platforms.

• 6 months: Perfect for short-term usage periods.

• 12 months: Ideal if you love to change your device for the newest flagship model annually.

• 24 months: Offer the most affordable monthly rate for having consistent service. 

The plan and monthly rate you select at checkout will remain unchanged throughout your selected term, providing you complete certainty when it comes to your finances.

Return the Device when Your Term Ends

Upgrade during the last 6 months of your term. Cinch Max upgrades, swaps, and hardware replacements are only available to Cinch Max smartphone plans.

Once your selected term has ended, just return the device in working condition. You can continue to stay on trend with the latest and greatest tech by choosing your next device, kicking off a new term, and never paying a large sum.

1. Is subscribing to a phone more cost-effective than buying outright? Subscribing is generally more cost-effective if you prefer upgrading your device every 12 to 24 months. Buying outright requires paying the full retail price upfront and bearing the entire burden of asset depreciation.

2. What happens if I accidentally damage the subscribed phone? Every device tier selected via the phone finder includes Cinch Plus, which provides defined service support and clear guidelines for operational wear and tear. Standard handling guidelines apply, and explicit terms regarding physical condition are outlined directly in your plan agreement so you know your exact responsibilities.

3. How does the upgrade process work during my term? On eligible smartphone plans, you can request an upgrade in the last 6 months of your term. This allows you to transition smoothly to a newer model toward the end of your contract without paying out the remainder of your hardware term in full.

4. Will my monthly rate change unexpectedly during my subscription term? No. The monthly rate and plan tier you select at checkout remain completely fixed for the duration of Cinch’s 3, 6, 12, or 24-month term. There are no sudden price hikes or variable finance charges added during your subscription period.