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The Economics of Smartphone Damage

Even the best of us have seen are smartphones damaged. You can try your best to avoid cell phone disasters, but, when they do happen, you have some choices to make in how to deal with it. Some of us have our devices insured and so get replacement phones; those who are handy may attempt to perform DIY fix-it jobs; and others just soldier on, using the devices in their less-than-perfect state.

The average cost to replace a cracked screen on an iPhone is $150, yet 8% of smartphone users continue to use their phones with a cracked screen, not bothering to get them fixed. In fact, particular groups of young people take pride in a cracked smartphone screen. For most people, however, it makes more sense to just repair a broken smartphone. By fixing their phones, they save themselves money, time, and inconvenience, and in some cases, the information they had stored on their phones.

Cell phone repair is a $1 billion dollar per year industry in the U.S. Consumers have spent $5.9 billion on iPhone repairs alone since 2007. Smartphones are growing in popularity and the cell phone repair industry is currently experiencing 10.9% annual growth, according to IBIS World.
What has your experience been with smartphone repairs? How did your phone get damaged, and how much did you pay to get it repaired?

 

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