Cost:

There’s more to a smartphone than the initial price tag, and although the $199 sticker price of the iPhone 4 can seem pretty steep, it’s comparable to various Android options, including the Droid Incredible (Verizon), Evo 4G (Sprint), and Nexus One (T-Mobile). Long-term, whether one will cost more than the other including ongoing plot fees will largely depend on what kinds of mobile features you select and how much of a power user you are, but in the end, the 24 month cost for all four models falls within $500 of each other. See all of Wired’s calculations for a detailed breakdown.

That said, Android may have a leg up on Apple given that they have no strategy for prepaid cell phone plans. With Android set to be coming to Virgin Mobile USA and Cricket plans later this summer, the potential for Android to further inch out Apple could be relatively significant.

Hardware:

Let’s do a quick comparison of the most vital features of the various smartphones on the table:

Memory and storage: These range from 256MB RAM to 512MB RAM, though some lag behind with one 8GB of storage or less, where the iPhone leads with 16 and 32GB.

Processors: Most have similar processors – 1GHz is pretty common, though the Motorola Droid has only 550 MHz.

Cameras: While most now have LED flash, the iPhone 4 has only a 5 MP camera which is low compared to the 8 MP in some HTCs. That said, iPhone 4 has the cool dual camera that allows you to see and be seen simultaneously.

Video: If you’re looking for a camera with video capability, iPhone 4 is certainly leading the pack, though HTCs are close behind.

Show: By the numbers, the iPhone’s 3.5 inch show seems slightly behind 4.3 inch HTC show available on the EVO 4G, but with iPhone 4’s new Retina Show high resolution IPS screen, theirs is superior by a excellent distance.

Functionality:

But a phone is more than the hardware, too. One of the primary benefits of the iPhone has always been the combination of fantastic hardware with a fantastic iOS. Not only has this made the iPhone simple to use, but integration with features like iTunes and MobileMe have further boosted the functionality of the iPhone experience as a whole. So how do the Androids stack up?

MultiTouch: iPhone’s is still superior

Multitasking: Androids are slightly better here

Sync/Backup: Similar capabilities, though Androids will automatically get apps on new phone with Google login, making this a small simpler

App install: Simpler with an Android

Music download: Quite a bit simpler with Android

Gaming: Apple has a much wider selection, though Android will likely be more powerful in the future because of its OpenGL APIs, etc.

Internet: Quicker on the Androids

Navigation: With Androids, you’ll have free access to Google Maps Navigation with turn by turn navigation; the same is available through iPhone for a fee

So, Apple or Android? Your choice will largely depend on how you use your phone. Talk to an expert about your requirements and do more research online to find out the ideal match for your needs. But if you’re a prepaid user who’s been waiting for a smartphone like the iPhone or Android options, wait a while and you’ll soon be rewarded with access to Virgin Mobile or Cricket!