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The $200 iPhone is being phased out Published: May 14, 2014

Until recently, wireless carriers typically subsidized the price of your device. They would charge you $200 as a down payment, and then locked you into a two-year contract, according to CNN.

That's changing.

Depending which carrier you go with, you'll either pay nothing upfront and face a higher monthly bill. Or you will have to pick up the full cost of around $650, in exchange for a slightly lower bill, CNN reports.

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