I do this every 2 years as I was with m1 contract. This table below will helps you to see clearer: In short, adding the monthly subscriptions cost, Caller ID (Hidden charges!) and the cost of acquiring handset, it is cheaper to recontract mySim only plan and get the handset from open market such as carousell as others might get it there and not wanting to use it, thus selling cheaper! The reality is that, for Telco to subsidies the the handset cheaper, they basically just transfer the cost of handset to consumer in the monthly charges and hidden cost. It's all a maths game! Anyway, doesn't necessarity only M1 offer the best deal. Do consider other options such as Singtel Gomo and Circle Life sim only plan and get handset from Carousell. It will be even cheaper with more data! Cheers!