Mobile Security

What Is the Cost of a Lost Phone?

We all know the dreaded feeling of a lost or stolen phone — but what are the cost implications to both an individual and a business?

“You have the cost of the device itself, but a bigger potential cost is the data on the device,” said Samsung’s director of product marketing Jon Wong during an interview in New York last month.

Wong explained this information inside an NYC taxi, one of the most common places where New Yorkers lose their phones, about the potential expenses businesses incur when employees leave their phones behind.

“If a device is comprised and [the wrong] data gets leaked, the cost from a business perspective can literally go into the millions,” Wong said.

Watch more from this interview with Wong – including how to mitigate the risks of losing your phone – in this video.

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Natalie Zfat

Natalie Zfat is a social media entrepreneur and Forbes Contributor who has partnered with some of the most iconic brands in the world, including Rolling Stone, Food Network, American Express and Levi’s. Curating original content and videos, Zfat gains millions of impressions for the brands she advocates for. When she's not engaging with her half a million followers, Zfat loves sharing her entrepreneurial thought leadership at conferences and universities, including Carnegie Mellon, NYU Stern School of Business, The Harvard Club of New York and Internet of Things World. Follow Natalie on Twitter: @NatalieZfat

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