Location service is one of the most widely used features on a smartphone. More and more apps are built based on location services. As such, demand for accurate positioning is ever higher. Mobile brand Xiaomi has introduced Mi 8, the world's first smartphone equipped with a dual-frequency GNSS chipset which is claimed to provide up to decimeter-level positioning accuracy. Such unprecedentedly high location accuracy brought excitement to industry and academia for navigation research and development of emerging apps. On the other hand, there is a significant knowledge gap on the energy efficiency of smartphones equipped with a dual-frequency GNSS chipset. In this paper, we bridge this knowledge gap by performing an empirical study on power consumption of a dual-frequency GNSS phone. To the best our knowledge, this is the first experimental study that characterizes the power consumption of a smartphone equipped with a dual-frequency GNSS chipset and compares the energy efficiency with a single-frequency GNSS phone. We demonstrate that a smartphone with a dual-frequency GNSS chipset consumes 37% more power on average outdoors, and 28% more power indoors, in comparison with a singe-frequency GNSS phone.