When it was launched in November 2017, the iPhone X was the most expensive version of the device ever produced at a price of USD 999. Outside the USA, it was usually even more expensive due to sales and import taxes. Although many feared that the phone would be a flop due to its high price, the Apple At the beginning of May, the company reported better than expected results for its second financial quarter. The company is still well on the way to surpassing the trillion-dollar mark in market capitalisation.
Although the phone is a financial success for Apple, it is still unaffordable for average earners in large parts of the world. The Swiss bank UBS has An analysis of the device price for average earners in 15 different professions in major cities. It found that someone in Zurich, which is incredibly wealthy, would have to work almost five days straight to get the iPhone X. The average New Yorker would need 6.7 days.
If that sounds like a lot, just think of the people in Africa who dream of having the Flagship smartphone from Apple. Lagos, Nigeria, is one of the fastest growing cities in the world and the most populous urban centre on the African continent. Wages there are still extremely low, and someone who wants to buy an iPhone X on an average wage would have to work for a total of 133 days. In the Kenyan capital Nairobi, the situation is somewhat better. Here, an average earner has to work 72 days to buy the device.
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