News by Jordan Crook on Monday April 11, 2011.
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Apparently, more than 75 percent of U.K. mobile phone owners are overpaying an average of almost 200 GBP (US$327 per year, according to a report by Billmonitor, a mobile phone site. In total, that 200 GBP per customer, per year comes out to a whopping 4.9 billion GBP (US$8 billion) to the mobile operators.
The report from Billmonitor found that more than half of users have a tariff that is too large for them, while just a quarter of users have a tariff too small. The report also estimates that 76 percent of mobile subscribers in the U.K. spend an extra 194.61 GBP per year simply by being on the wrong contract. When comparing that number to the average U.K. yearly phone costs, nearly 200 GBP is a 44 percent overspend. The research concluded that many people are so fearful of overage penalties that they opt for the most popular tariff in the U.K., which offers 600 minutes of talk time, despite the fact that many of these people use merely a quarter of those minutes each month.
This news may come as a shock to any U.K. mobile subscriber, but have no fear. There are still savings to be had, as the report claims that around 47 percent of customers who want an iPhone 4 could purchase one on a new contract and still save 156 GBP (US$255) per year. Assuming that customers would be willing to switch networks, those subscribers would probably enjoy even greater savings, according to Billmonitor. [Billmonitor via WSJ