Forget everything you thought you knew about buying a mobile phone. In just the past year, we've seen more changes to the industry than there are numbers on the dial-pad. The Big Four carriers (AT&T, Sprint, T-Mobile and Verizon Wireless) have all but abandoned their old business models. Major phone makers like Google, Motorola and even Apple will now sell you their phones unlocked and contract-free. And don't forget the disruptors: The companies offering cheap (or even free) service and feature-packed (but affordable) phones.

For you, this is very good news: It means more options, fewer limitations and, best of all, lower prices. Whereas once you had no choice but to buy a subsidized phone from a major carrier, then pay a hefty fee every month for two full years, now you can choose from a variety of inexpensive handsets, get service from a smaller carrier -- a mobile virtual network operator, or MVNO -- and enjoy contract-free service at significantly lower rates.

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