$175 Fee If You Cancel iPhone, Even Though You Paid Full Price

You better frickin’ like your full-price iPhone because if you don’t, AT&T plans on charging you the full $175 early termination fee, even though the phone’s cost isn’t at all subsidized under a long-term-agreement.

Cellphone companies usually justify early termination fees on the basis that it’s meant to recoup the cost of discounting a new phone to a new subscriber.

But if the iPhone is selling for the full price, why would AT&T impose the same high fee? Oh wait, because it’s the iPhone, and they can. (See: Veblen goods). — BEN POPKEN

Boston.com via AppleInsider
(Photo: presta)