July 29, 03:41 PM 
514 Chai Chee Lane 03-16, Singapore 469029 M1 has just released a new mobile phone subscription plan called mySIM.
The lowest tier plan, going for $30 a month, gives subscribers 5 gigabytes of data, 300 minutes of free talk time and 1,000 free SMS/MMS.
Other tiers as follows:
Screen grab from M1
Currently, mobile phone plans which offer data plans between 4 to 5GB cost approximately $80 from all three telcos. Subscribing to these plans allow consumers to pay mobile phones at subsidised rates.
Unlike popular postpaid mobile phone subscription plans, M1's latest mySIM plan will not provide subsidies for mobile phone purchases.
Is this plan worth it?
It all depends on two things: 1) Your data usage; 2) Your taste in mobile phones.
If you are someone who requires 5GB of data monthly and would like the latest iPhone 6 (64GB), you would save more money using the mySIM plan and buying the phone at retail price ($1,868 vs $2,234).
If you are someone contented with 3GB of data monthly and the same iPhone 6 (64GB), you would save money buying the phone at a subsidised rate and paying a higher monthly subscription of $41 ($1,649 vs $1,868).
So whether this plan makes sense to consumers largely rests on the kinds of phones they want, and their data usage patterns. Telcos charge between $8.56 to $10.70 per 1GB of extra data per month if usage is exceeded.
With Xiaomi and Oppo leading the charge with cheap smart phones, M1's mySIM plan may be an attractive option for consumers who want cheaper subscription rates and do not need subsidies on their mobile phone purchases.
Will 5GB be the new 3GB?
It is not known how Singtel and StarHub will react to M1's new offering.
Earlier in May 2015, Internet Service Provider MyRepublic's CEO, Malcolm Rodrigues, predicted that once the Government announces the possibility of a fourth telco, the incumbent telcos would "start to lock people’s contracts" and he added that "good thing is that you will see 2GB data caps go to 5GB data caps."
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