The purpose of this study is to identify perceived values in mobile phone services, and further explore the relationships among perceived value, customer satisfaction, and customer loyalty. A mediated regression analysis was used and 218 savvy mobile phones users in Taiwan were investigated. The findings reveal that perceived values, including utilitarian value, social value, and hedonic value, positively influence customer loyalty, and the mediation of customer satisfaction is also significant. The contributions of this study are two-fold. The first is to recognise the importance of utilitarian value, social value, and hedonic value for customer loyalty in mobile phone services. The second is to offer insights for mobile marketers to improve perceived value for customers and enhance their satisfaction levels, helping with customer retention.