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September 6, 2008 11:14:38 PM CDT

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Early iPhone Buyers Are Left With Memories—and Debt

Posted Jun 10, 08 3:06 PM CDT in Technology 

(Newser) – The new 3G iPhone makes one thing obvious, writes Brett Arends in the Wall Street Journal: Consumers who bought the earlier models were chumps. The fans who stood in line a year ago are out $300, and for what? Apple says the new phone is twice as fast. “What that says about last year's model is painfully obvious,” writes Arends.

“Yes, the earliest adopters got their iPhones early. Perhaps the happy memories will keep them warm.” But the coolest features—third-party apps—are just coming out. Arends argues that all those credit card-happy, 20-something early buyers should have invested their $300 in retirement accounts instead. By age 65, they’d have earned $2,700 for that year of waiting.

Source Wall Street Journal

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Ethan Einhorn of Sega introduces a new video game capability for the Apple iPhone during the Apple Worldwide Developers Conference in San Francisco, Monday, June 9, 2008.   (AP Photo/Eric Risberg)
Apple Inc. CEO Steve Jobs announces the new entry level Apple iPhone 3G will cost $199 during his keynote speech at the Apple Worldwide Developers Conference in San Francisco, June 9, 2008.   (AP Photo/Eric Risberg)
Apple CEO Steve Jobs introduces the new Apple iPhone 3G with GPS at the Apple Worldwide Developers Conference in San Francisco, Monday, June 9, 2008.   (AP Photo/Paul Sakuma)
Benjamin Mosse, director of mobile products for AP, introduces a new mobile news platform for the iPhone at the Apple Worldwide Developers Conference, June 9, 2008.   (AP Photo/Eric Risberg)
In this photo provided by Apple Inc., the Apple iPhone 3G is shown.   (AP Photo/Apple Inc.)
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