Dropped your iPhone into the ocean? Have we got some good news for you.

It's the scenario that iPhone owners dread: One moment you're sipping soup, and the next you're hauling your precious gadget out of six inches of boiling hot liquid. In the past, the Geniuses at your local Apple store would check the "liquid submersion indicators," and you would be required to buy a whole new handset – and extend your owner's contract.

Today, ifoAppleStore is reporting that Apple may have changed its tune:

Under the new policy, the iPhone owner simply pays a one-time $199 price for a refurbished handset, and transfers the SIM card to the new device.

It's still a high price to pay for having fingers made of butter, but it's a vast improvement over the old policy. Three cheers.

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