iPhone Price Index. Where is it most expensive to buy one?

iPhone Price Index. Where is it most expensive to buy one?

iPhone could be considered a luxury good!

Actually, it is definitely a luxury item due to the price but here in Malaysia, it’s considered a phone. Imagine changing iPhones once every 2 years and by the time we retire, we have probably spent close to RM100,000 on iPhones alone. Average price of RM4,500 and changing it 20 times over 40 years. (once every 2 years) Shocking but true. Haha. I do not want to do the calculation for those who change phones every year…

Cheapest in South Korea and most expensive in Türkiye

Strength of the currency determines how ‘affordable’ the phone is

China’s price of US$1,097 or Malaysia’s price of US$1,126 or even Vietnam’s US$1,138 looks like it’s priced very close to the US price. However, based on per capita income, this is one reason why I say this is a luxury good. Meanwhile Singapore is more expensive in US$ but due to their earnings in SGD, iPhones become an affordable choice. I know, if you are Thai or Filipino, I feel for you. I do wonder why iPhone prices are higher in both these countries.

Turkiye puts it as a luxury good, does this affect the sales?

A quick answer is that it does not seem so, or perhaps people in Türkiye are generally wealthy. Despite its price, it holds a quarter of the total market share for handphones. All the other brands all have affordable offerings which is likely to be around RM1,000 or lower too. In fact sometimes, a luxury good definition may help its sales too because people who could still afford to buy would now have the extra ‘richer image’ in front of all others who could not. This is the world we live in.

Happy purchasing and enjoying yeah. I am just an OPPO supporter.

Please feel free to share this article too. (links are all below) Thank you! 

Sign up for daily investment news updates (FREE since Nov 2013 and FOREVER).  

Please LIKE kopiandproperty.com FB page to get daily updates about the property market beyond kopiandproperty.com articles. 

Else, follow me on Twitter here.