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Picking a Mobile Phone Service

The mobile cellular phone market has been shifting of the past years and decade. While the mobile market still continues to grow, traditional phone plans are shrinking in market share. These old contract plans are being traded in for the cheaper and more flexible prepaid cell plans.

The two basic types of mobile plans are postpaid and prepaid. A prepaid plan will require the user to pay for their minutes, text and data upfront. A postpaid plan will require you to pay for the minutes, text and data you used at the end of each month. Postpaid plans will typical allow you a certain minutes, texts, and data you can use through the month anything used on top of that you will be charged extra. This type of plan will usually do a credit check on the user because you will be using the service and paying at the end of the month.

The mobile phone market continues to grow and it has grown each year since its inception. Almost 90% of the United States’ population owns a cell phone. The market growth has slowed over time as much of the population has already become a consumer.

The main growth in this market was because people were signing up for traditional plans. Back in 2008 this niche market began to slow and take a step back. The next year the additions of postpaid consumers fell by nearly 60% across all the major carriers.

At the same time that postpaid plan additions were slowing and declining, prepaid plans were becoming more and more popular. 50% of all new cell phone users were choosing to go with a prepaid service. Over the next couple of years this percentage continued to grow.

Years ago prepaid plans use to be expensive but over the years these price decreased and they are now significantly cheaper than postpaid plans. Prepaid plans now offer the unlimited plans that contract plans use to offer, contract have since gotten away from this making the prepaid plans for convenient and cheaper. During the economic struggles of a couple of years ago the prepaid market saw a huge boost as they were able to offer cheaper prices and the ability to be flexible with the payment options.

Contract mobile phone plans continue to be popular with a lot of consumers. The primary reason for this is because they offer cheaper and better phones than the prepaid services. Carriers will usually subsidize the price of new phones if the consumer will sign a multi-year contract with them. In contrast prepaid phones usually seem to be more expensive because the price will not be subsidized.

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