A report from Heider College of Business at Creighton University calculated smartphone consumers could save billions a year if manufacturers enabled a "kill switch."

Dr. William Duckworth acknowledged a recent report from comScore stating more than 145 million Americans own a smartphone. The mobile devices, however, can make the owner easy targets for theft. Consumer Reports recognized 1.6 million mobile phones were stolen during 2012 within the U.S. He mentioned an Apple iPhone 5s, which launched on Sept. 20, 2013, in the U.S., could be sold for $800 or more on the market, above the potential cost of a stolen wallet, tablet, or laptop.

To combat smartphone theft, the concept of a "kill switch" has been discussed even in Congress. The "kill switch" would allow the stolen device to be disabled, thus, no use for criminals.

"Although many have considered the public safety benefits of a Kill Switch, I wanted to understand whether or not consumers want a Kill Switch in their phones and whether or not a Kill Switch could actually save consumers money," wrote Dr. Duckworth in his report Anti-Theft Software in Mobile Phones Could Save Consumers $2.6B a Year.

Dr. Duckworth conducted a survey with 1,200 smartphone owners and determined the average cost of the mobile phones and their insurance. He found consumers "overwhelmingly" support the "kill switch."

The survey results revealed 99 percent of smartphone owners felt mobile carries should grant consumers the option to disable their device if stolen. When asked if the "kill switch" would help reduce mobile phone theft, 83 percent responded positively. The smartphone owners, however, strongly agreed that they should not pay extra fees for the "kill switch" technology with 93 percent.

"To estimate the financial savings a Kill Switch could deliver, I considered two components: the cost of replacing stolen phones and the cost of paying for premium cell phone insurance that would cover stolen phones," added Dr. Duckworth. "According to my calculations, a Kill Switch could save Americans up to $2.6 billion per year."

Dr. Duckworth was able to determine the $2.6 billion per year figure by noting Americans spend approximately $580 million per year on replacing stolen phones on top of $4.8 billion per year for premium cell phone insurance plans from their mobile carriers. With the "kill switch" technology, Dr. Duckworth stated consumers could save $580 million per year from not replacing their stolen phones and $2 billion a year by eliminating premium cell phone insurance plans from their mobile carrier and obtain basic coverage offered by third parties such as Apple and SquareTrade.

As Latin Post reported, U.S. Senators Amy Klobuchar (D-MN), Barbara Mikulski (D-MD), Richard Blumenthal (D-CT), and Mazie Hirono (D-HI) introduced the "The Smartphone Theft Prevention Act" in February. The proposed legislation would mandate smartphones to have a "kill switch" in order to protect consumers and combat theft.

"Cell phone theft has become a big business for thieves looking to cash in on these devices and any valuable information they contain, costing consumers more than $30 billion every year and endangering countless theft victims," said Sen. Klobuchar. "This legislation will help eliminate the incentives for criminals to target smartphones by empowering victims to take steps to keep their information private, protect their identity and finances, and render the phone inoperable to the thieves."

The Smartphone Theft Prevention Act acknowledges that the "kill switch" technology should be offered free of charge to the consumer and prevent anyone from activating the smartphone except for the original owner.

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