Apple, an American multinational technology company headquartered in Cupertino, California, unveiled the prices of the iPhone 15 in India on Tuesday. It is so high that an Indian needs to spend over 75 percent of their monthly salary to purchase the next-generation iPhone.
The iPhone 15 and iPhone 15 Plus, available in 6.1-inch and 6.7-inch display sizes, start at Rs 79,900 and Rs 89,900, respectively. The iPhone 15 Pro and iPhone 15 Pro Max, which are also available in 6.1-inch and 6.7-inch display sizes, start at Rs 134,900 and Rs 159,900, respectively.
India’s GDP per capita
According to World Bank data, India’s Gross Domestic Product (GDP) per capita, which represents the average GDP of an individual in the country, was USD 2388.6 in 2022.
If we consider this amount, the average income of Indians is Rs 198,082.54 (as per the current exchange rate). This means the average monthly income of Indians is Rs. 16,506.
Percentage of Indian monthly salary needed to afford iPhone 15
The iPhone 15, starting at Rs 79,900, is available with an EMI of Rs 12,483 on the official Apple website (click here). If the target is the iPhone 15 Pro Max, it costs Rs 159,900 and is available with an EMI of Rs 21,483.
Upon comparing GDP per capita and the EMI for the iPhone 15, it can be said that to buy an iPhone 15, over 75 percent of the average income/salary of Indians needs to be spent. In the case of the iPhone Pro Max, it is even higher, requiring over 130 percent of the average Indian income/salary to cover the EMI of the iPhone.
