Decide.com knows precisely when you should buy a new phone

Decide.com, a service that tracks consumer electronics prices and release dates to let you buy without regret, now also tracks mobile phones, the company announced today.

Additionally, the site now makes it easy for you to follow the multitude of iPhone 5 rumors floating around the web with a newly launched Twitter account, @d_iphone, featuring information culled from hundreds of sources.

“Like wristwatches a generation ago, mobile phones are the gadget status symbol of our age and making a bad purchase decision can be devastating,” CEO Mike Fridgen said in a statement today. “Shoppers can now check Decide.com to know when to buy phones before getting stuck with that two-year contract.”

Decide.com tracks trends in pricing, as well as news about updated models, to help you make the best decision about buying a new gadget. All of the iPhone 4 models, for example, have a “Wait for new model” status since the iPhone 5 launch is right around the corner. You can also set alerts for when a particular gadget’s price rises or falls.

Based on Decide.com survey data, consumers are willing to wait up to five months before purchasing a new cellphone. That’s the longest waiting period for any consumer electronics device type, the company says.

Decide.com is based in Boston, MA, and has raised $8.5 million in funding from Madrona Venture Group, Maveron and angel investors.