Prevalent usage of mobile devices among consumers has been well recognized and this is especially imperative among young adult consumers. The mobile phone became the gateway of their communication, media consumption, retail transaction, education, and (virtual) social life. However, there is little empirical research explaining the dynamics behind the psychological underpinning of young adult consumers, specifi­cally Generation Y, to understand their usages and dependency on mobile phones. This study, therefore, aims to unveil antecedents and consequences of Gen Y consumers’ mobile phone dependency from a media psychological perspective. We developed a conceptual model based on theory of self-monitoring (Snyder 1974, 1987), extended self-concept (Belk, 1988), and media dependency theory (Ball-Rokeach & Defluer, 1976). Four hundred ninety-eight students in the U.S. provided usable responses to our pencil-and-paper survey. Causal modeling analysis results demonstrated that both ability to modify one’s behavior and sensitivity to cues for social appropriate behavior dimensions of the self-monitoring tendency positively predicted one’s level of fashion involvement, which in turn positively predicted his/her mobile phone dependency. Individual’s mobile phone dependency, fashion involvement and self-monitoring’s ability dimension exhibited positive and direct impact on one’s perception of the salience of mobile phone case product attributes. Based on the findings, we provided pragmatic and theoretical implications for the industry and academia.