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Thanks to the good people at SquareTrade, we can now truly verify that both the iPhone 7 and iPhone 7 Plus are indeed water-resistant. 

Pro Surfer Kai Lenny took both coveted devices surfing with him, and they both lasted for a full half hour with minimal damage. 

He insists the iPhone 7 is "exactly the same as when [I] went in with it." However, after returning with the iPhone 7 Plus, he notes that the Plus is "water-resistant but not waterproof."

A representative from SquareTrade confirmed that for the Plus, "the water definitely had an impact on the audio." But, otherwise, it still worked.  

While Apple claims that the iPhone 7 is splash and water-resistant, it does also say on its website that the "resistance might decrease as a result of normal wear." And very importantly: "Liquid damage [is] not covered under warranty." 

For kicks, Lenny also took last year's iPhone 6S and iPhone 6S Plus to compare. They did not pass.