'Most important belonging': 1 in 5 Americans believe it is worth taking on debt to pay for new iPhone 14, survey says

More than a third of Americans say that their phone is their most important belonging. — Justin Sullivan/Getty Images/AFP

STATEN ISLAND: Apple upped its tech game once again last week, officially releasing the new iPhone 14, which boasts the brand's longest battery life ever and offers incredible advances in photo technology and several new vital safety features. But is the device – which retails for close to US$1,000 (RM5,299 in Malaysia) and can logistically double your cell phone bill – really worth the hype and/or the debt? According to a new survey by WalletHub, more than one in five Americans think it is.

"iPhone demand is rising," noted WalletHub, a personal finance website that found 24% more people plan on getting the new iPhone this year, compared to last year. "More than a third of Americans say that their phone is their most important belonging." The survey, which examined not only how the current economic environment has impacted Americans' cell phone purchase plans, but also why people buy new phones and how essential those phones are, also identified that more than half of Americans are willing to try a budget cell phone carrier in order to make the upgrade.