According to a report by The BHB Group, the money it would cost to buy the newest iPhone model would feed a person 3 full meals for an entire year in India.

It goes without saying that, with a price tag of around 70000 rupees for a middle of the range spec model, the iPhone 7 is an absolute luxury purchase in the nation with a population of over a billion people.

“It’s well known that Apple is keen for a piece of the world’s most rapidly expanding smartphone market. But up till now it has been rather challenging,” said Lee Donsen at The BHB Group.

Unlike Apple, Samsung has a number of affordable handset models that are designed for the Indian market and are proving incredibly popular.

Apple products are desired in India but many consumers will wait for the latest models to be released so that the prices of previous models will drop and they can then upgrade to a new old model. The 5s model for instance is now an “affordable” upgrade in India and many stores advertise it as such even though Apple has already phased it out of markets elsewhere in the world.

Even with newer and more affordable offerings from companies like Oppo and Vivo, many consumers will choose older iPhone models when they become affordable. This is why Apple is keen to penetrate the Indian market and is seeking to open Apple stores where they can distribute both new and used iPhones to a new generation of Indian smartphone users that are sure to become loyal Apple followers.

About The BHB Group:
The BHB Group was formed in September 2002 as an innovative professional financial services firm which specialises in holistic and individually tailored client-centred care for all of an individual’s financial needs that enriches the business ventures and personal lives of our clients by appropriately positioning and protecting what they have today, planning for what they want in their future and preparing the path by which they’ll reach their goals.