iPhone X Tops Global Smartphone Hit List in Q1 2018
Despite several reports suggesting “lackluster demand” for the iPhone X, Apple’s most expensive smartphone model to date is proving to be very popular. According to latest estimates from IHS Markit, Apple shipped 12.7 million units of its flagship phone in the first three months of 2018, making the iPhone X the most popular phone in the world. While the number of shipped units is considerably lower than what Apple achieved with the iPhone 7 Plus a year earlier (18.3 million), it is still remarkable that the ultra high-end (and expensive) iPhone X beat every other model on the market. Samsung’s most popular model was the Galaxy Grand Prime Plus, an entry-level model that costs less than $150. As our chart illustrates, Apple and Samsung dominate the top 10 list for the first quarter of 2018. IHS cites the delay of new model releases as a likely reason for the lack of phones from Chinese manufacturers on the list.
How Long Do You Have To Work To Afford An iPhone X?
The iPhone X had a price tag of $999 on launch day in November 2017 making it the most expensive version of the device ever manufactured. Most of the time it was even more expensive outside the U.S. due to sales and import taxes. Even though many feared the phone could flop due to that high price tag, Apple reported better than expected results for its second fiscal quarter in early May. The company is still firmly on course to surpass the trillion-dollar mark in market capitalization. Even though the phone is proving a financial success for Apple, it is still prohibitively expensive for people on an average wage across much of the globe. Swiss Bank UBS conducted an analysis of the device's price for someone on an average wage in 15 different professions in major cities. It found that in Zurich for example, which is incredibly affluent, somebody would have to work almost 5 days straight to get their hands on the iPhone X. For an average New Yorker, 6.7 days would be required. If that sounds like a lot, spare a thought for people in Africa dreaming of buying Apple's flagship smartphone. Lagos, Nigeria, is one of the world's fastest growing cities and the most populous conurbation on the African continent. Wages are still extremely low there and somebody hoping to buy an iPhone X on an average wage would have tot work for 133 days. The Kenyan capital of Nairobi is a little bit better off with an average earning needing 72 days of work to purchase the handset.
Articles published courtesy of Statista