'My phone has broken' is not only a classic Facebook status, one you will most likely see at least five times a week, it is also a problem you will likely encounter (or narrowly avoid) on a semi-frequent basis. I mean, we all have that one friend who seemingly throws their phone down the toilet or smashes it to pieces by dropping it on the floor every other week, but it is not unlikely that you break your phone at least once or twice, you may even be 'that one friend'.
External damage is hardly something which can be resolved quickly, some internal or minor faults can be, one big one with an iPhone (or any phone really) can be it freezing. The retro method of just 'turning it on and off' can actually work half the time, as modern devices are extremely complex and can at times get themselves confused, resetting or restoring your iPhone can help clear out the random problems which have perplexed it.
For anything bigger than a minor mishap, you may find a trip to a local Apple store is in order (or the next best thing) as they should be more knowledgeable than you on the matter of their products and will most likely offer some service to tend to your phones ailment. Often times this may mean that your phone will be fixed at the cost of it being fully wiped, thus reinforcing how essential it is to regularly back up your iPhone.
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