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The craze of buying Apple iPhone is increasing among the people of India. Apple’s sales figures also testify to this. Naturally everyone wants to use Apple phone but buying it is not so easy. Many people think about buying an iPhone thinking that everyone in America uses an iPhone or under the influence of a friend or just for show, think again. But does your salary allow you to buy an iPhone? Or are you hurting yourself just by pretending? It is very important for you to understand this calculation.
India-US average salary
In some countries of the world, buying an iPhone is equal to a few days’ salary and in a country like India, it is equal to the salary received after several months of work. The latest range of iPhone 16 is currently available in India. The official price of its base model is Rs 79,900. Whereas in America the price of this model is $799 (about Rs 67,835). Now, calculate the average salary of yourself and US citizens.
Considering the minimum wage in India, the monthly salary of most people is between Rs 18,000 to Rs 20,000. Whereas the average salary of a person in America is $ 6,000 (about Rs 509,700) per month. Now if an American goes to buy an iPhone, he will have to spend 5 days’ salary to spend $799. Whereas an Indian has to spend about 4 months of his salary on this. Even if a person’s salary is Rs 50,000 per month, he will have to spend about 1 month and 18 days’ salary to buy iPhone 16.
Price-Payment Ratio Statistics of iPhone Index
The iPhone Index has been tracking the price-to-earnings ratio of Apple smartphones since 2018. It provides annual insight into how accessible the iPhone is to people in different countries. According to the iPhone Index, which compares the price of the iPhone 16 Pro (128GB) to the average daily wage in different countries, people in Switzerland only need to work four days to afford a new phone. The average person in America would have to work 5.1 days to save. Australia and Singapore are also not far behind, where one has to work 5.7 days to buy an iPhone. However, the situation is quite different in India. The average person here has to work 47.6 days to buy an iPhone 16, making it one of the most expensive purchases relative to salary.
Is it useless for Indians to buy iPhone?
Let us now know how much money should you spend to buy an iPhone smartphone? For this, first of all it is important to understand that your smartphone is also a depreciable asset like your car. This means that its price decreases every year. Generally, people’s smartphones last for 2-3 years or replace them within 3 years if they break or hang. According to which if we calculate Rs. If the Rs 80,000 iPhone 16 lasts for 3 years, that means every month you will get Rs. It will cost Rs 2,220. When you buy a regular phone worth up to Rs 30,000, your monthly spend on a smartphone will come down to Rs 834.
Most people buy iPhone on loan or EMI. The phone is just a device and if you buy it on EMI then you are doing something wrong. Because if you compare it with the earnings of people in America, you should know the fact that for them the Pro model costs only 25 percent of their monthly salary, so it makes sense for them to buy it.
Will not give you eternal happiness,
According to experts, you should spend 5 to 10 percent of your annual income on personal items. So if your salary package is Rs 10 lakh, you have adequate emergency cash savings and no other loan obligations, then you can feel free to spend your money on a luxury item like an iPhone. However, it also depends on your other expenses and what your priorities are.