This study sheds light on how smartphones affect the interplay of costs, trust and loyalty towards telecom operators. The effect of trust on loyalty is consistently high for smartphone owners and feature phone owners. Even though smartphone owners tend to share considerably more privacy-sensitive data through operator networks and may use more sensitive services such as mobile banking and payment, we did not find that trust is more important for them. As such, the study confirms existing literature that trust will remain a main antecedent of customer loyalty (Lin and Wang, 2004