On: The real prices of the iPhone 12 and iPhone 12 mini

[decker]

The part where you have to spend more than $699

[kube-system → decker]

You don't "have to" spend more than $699. $699 is the price you pay for the phone on ATT or Verizon. This is spelled out clearly on their website, on the button you click to select the phone you want to order.