Owning an iPhone is the best indicator of wealth, claims research

[midian182]

WTF?! If for some reason you want people to think you’re rich, you don't have to buy a Rolex or a Porsche, simply get yourself an iPhone. According to a new paper from the National Bureau of Economic Research, there’s no better indicator of wealth than walking around with one of Apple’s handsets.

There are caveats to the research, but the paper, which is based on data from 2016, explains that owning an iPhone gave researchers a 69 percent chance of correctly identifying someone as “high-income.” The status is defined as “being in the top quartile of income for households of that type.” Since the data is from two years ago, it doesn't even take into account last year's $999 iPhone X.

It seems that owning an iPad back in 2016 was also a good indicator of wealth, though at 66.9 percent, it wasn’t as fancy as owning an iPhone. Even having an Android smartphone gave researchers a 59.5 percent chance of correctly predicting if someone had a healthy bank account, as did using Verizon (61 percent). The fourth-best brand indicator was if someone used Kikkoman soy sauce—a sign of wealth since 1992, when using Grey Poupon Dijon mustard was the number one indication you had plenty of cash.

In 2004, high-income indicators included owning a dishwasher, ordering any item via the internet, and having a personal computer. While owning a PC didn’t suggest someone was rich in 2016, the other two indicators from 2004 remained on the list.

The researchers used information from Mediamark Research Intelligence, which had a sample size of 6,394. As noted by Business Insider, data includes bi-annual questionnaires as well as information like household income from a face-to-face interview. You can purchase the full paper here.

Permalink to story.

https://www.techspot.com/news/75406-owning-iphone-best-indicator-wealth-claims-research.html

 

[Reachable]

Some of this, obviously, can't be correct. Smartphone ownership is at 77%, so it's obviously not just people in the upper income brackets.

http://www.pewinternet.org/fact-sheet/mobile/

But the iPhone is certainly elitist.

 

[Uncle Al]

HAHAHAHA ..... you can bet Apple contributed to their bottom line to get that kind of claim. I think far more see anyone willing to drop $1,000 on a phone as a sign of stupidity, at least when it comes to money management .....

 

[Cycloid Torus]

"High Income", not "high wealth", but likely "high debt".

 

[Trillionsin]

"High Income", not "high wealth", but likely "high debt".

lol you beat me to it. does debt somehow equal wealth? What am I missing here...

 

[Trillionsin]

"High Income", not "high wealth", but likely "high debt".

lol you beat me to it. does debt somehow equal wealth? What am I missing here...

 

[RaXoR]

Sure let's pay top dollar for hardware with potential but underwhelming delivery because Apple likes to spoon feed you what you can do with it.

 

[Sausagemeat]

iPhones are the most valuable phones on the market. They fetch far more at resale 12-24-36 months after purchase than their competitors often making them cheaper buys than these competitors which are priced only slightly cheaper. So long as you take care of them.

For example if you bought a Note 8 for £879 in the UK you can sell it today on Mazuma for £375 however an iPhone X that cost £999 would sell for £540 on the same site. This means the Note 8 has cost the user more over almost the same length of time. The difference compounds with older phones with iPhone 6S fetching more on resale than a 6 month younger Galaxy S7. Although maybe that’s because Apple still support their phones past 12-15 months after release.

Amusing, especially as this article has attracted the usual crop of clowns commenting that only people with more money than sense buy iphones!

 

[ShagnWagn]

A fool is easily parted from their money. Parents who are broke will buy their kids these because it is the fad. I know - some of my family is doing it. They barely scrape by - can't even afford a descent meal for their kids, but yet keep buying them gadgets. Kids these days only want them because other kids have them. They don't want to be "uncool". They also let their kids blow money on buying digital clothes for their character. I thought it was girls who like to dress up their dolls... SMH

 

[m-tec]

There are clearly a lot of wealthy 12 year olds out there, but what does it say if you walk around with a broken screen???? hmmmmmmmmmmm

 

[Gamblin Man]

Either have money, or could just plain be a fool.

 

[Slappy McPhee]

iPhones are the most valuable phones on the market. They fetch far more at resale 12-24-36 months after purchase than their competitors often making them cheaper buys than these competitors which are priced only slightly cheaper. So long as you take care of them.

For example if you bought a Note 8 for £879 in the UK you can sell it today on Mazuma for £375 however an iPhone X that cost £999 would sell for £540 on the same site. This means the Note 8 has cost the user more over almost the same length of time. The difference compounds with older phones with iPhone 6S fetching more on resale than a 6 month younger Galaxy S7. Although maybe that’s because Apple still support their phones past 12-15 months after release.

Amusing, especially as this article has attracted the usual crop of clowns commenting that only people with more money than sense buy iphones!

Let's get something clear here....people commenting about the stupidity of someone buying an iPhone and paying the cost of them isn't being a "clown" its recognizing that there are viable alternatives. The fact that you even mention resale goes to show that your viewpoint is the same as someone that overpays for anything. "Gee, when I buy my next phone I need to be sure that I buy one with high resale". I have bought the last few Motorola phones (X, Z Play, etc) because I can pick one up for around $400 USD, save that again compared to buying a Crapple, have just as much functionality/performance and call it a day. My wife has been buying iPhones since the 5S came out and I tell her every time that she buys one it is a stupid decision from a financial standpoint because you are giving your money away for X amount of years and then will get some back. I bought my Moto X Pure for $450 brand new when they launched. I picked up the Z Play for grins when that launched and sold my X for $300. so I got to use my X for 33% of the total cost for the device for over 2 years whereas every iPhone she has sold she hasn't even gotten half back....you know why? Because every damned Crapple Fanboy and Fangirl has to go out and buy the latest iPhone when it launches so the market is flooded with them. Too much competition and the market value drops. You try to cite economics however your statements are not fully thought through. The fact that someone took the time to even compute this bunch of BS goes to show how much spare time some people have on their hands which is apparently too much. I see people with iPhones from all races, creeds, colors, and walks of life. They mean jack shite just like any other damned phone especially when they can be bought interest free from the carriers. SMH

 

[JamesSWD]

I'll try and remember these silly claims the next time I see someone with an iPhone who's also driving a clapped-out 25 y/o Corolla or who can't afford their rent.

 

[Whatif]

Owning an iPhone is the best indicator of wealth, claims research

I tend to find those who own an iPhone to be snobs more than anything else and I have owned one myself. Not that I was a snob as I am a disabled pensioner and was given one for free. The problem was, it was not as capable as the Samsung S3 I had before it. Just a couple of examples - poor signal strength - the S3 got 100% everywhere at home and iPhone 6 got 25% to 50% depending on where you sat. Then the WiFi (Netgear AC) kept cutting out (I cannot afford a data plan) and even when it did work, it was slower than the S3. It would not link in with my TV's WiDi but the S3 would. I wasa able to upgrade the battery in the S3, but I was stuck with a standard battery in the iPhone which needed charging at least twice as frequently when compared to the S3. I could even swap out the flat batteryt in the S3 for a charged one and within a minute be at full charge again. Then there was not enough onboard storage and no micro SD slot.
So I ended up going back to an Android phone after the iPhone gave me too many problems.

In my own considered opinion and experience, they just don't offer good value for the money. Apple just seems to try and make up for the short falls with overzealous marketing.

For example, Apple's flagship iPhone Xs (256GB for the extra storage space) price is over $1800 (https://www.apple.com/au/shop/buy-iphone/iphone-x), yet I can get the Samsung flagship Note 8 for about $850 (https://www.becextech.com.au/catalog/samnote8dual64gbgry-ins-p-9433.html#.W0P0ViAnZPY) and then spend under $100 on a 200GB micro SD card. I cannot see almost $900 difference between them - THAT IS TWICE THE PRICE! The prices quoted here are as of today.

And there is how iPad owners cannot see how it is just another tablet, they keep trying to correct you "it is not a tablet, it is an iPad"
That to me is NOT a sign of wealth, it is just being an ignorant snob!

 

[lazer]

Several years ago I (at that time had a samsung) and my sons (two had iphones) compared our products: speed, apps, etc. We saw that iphone was not superior to samsung but really samsung was either equal or better than iphone! and the bottom line was of course lower price.

Since then, I bought a LG and they bought new iphones. They just liked the apple and could not switch even though they themselves admitted that Samsung was a better buy!

 

[lazer]

Sure let's pay top dollar for hardware with potential but underwhelming delivery because Apple likes to spoon feed you what you can do with it.

It is sort of like Micro$lop that has conned people for years into believing they gotta have their product even when there are very good free alternatives and some of them are superior to M$,

 

[Sausagemeat]

Let's get something clear here....people commenting about the stupidity of someone buying an iPhone and paying the cost of them isn't being a "clown" its recognizing that there are viable alternatives. The fact that you even mention resale goes to show that your viewpoint is the same as someone that overpays for anything. "Gee, when I buy my next phone I need to be sure that I buy one with high resale". I have bought the last few Motorola phones (X, Z Play, etc) because I can pick one up for around $400 USD, save that again compared to buying a Crapple, have just as much functionality/performance and call it a day. My wife has been buying iPhones since the 5S came out and I tell her every time that she buys one it is a stupid decision from a financial standpoint because you are giving your money away for X amount of years and then will get some back. I bought my Moto X Pure for $450 brand new when they launched. I picked up the Z Play for grins when that launched and sold my X for $300. so I got to use my X for 33% of the total cost for the device for over 2 years whereas every iPhone she has sold she hasn't even gotten half back....you know why? Because every damned Crapple Fanboy and Fangirl has to go out and buy the latest iPhone when it launches so the market is flooded with them. Too much competition and the market value drops. You try to cite economics however your statements are not fully thought through. The fact that someone took the time to even compute this bunch of BS goes to show how much spare time some people have on their hands which is apparently too much. I see people with iPhones from all races, creeds, colors, and walks of life. They mean jack shite just like any other damned phone especially when they can be bought interest free from the carriers. SMH

I disagree. I definitely think that people who claim that only stupid people buy iPhones are clowns. Because it’s simply not true. Many intelligent working professionals prefer iPhones and many prefer Android devices. I am a telecoms professional and I can think of many reasons why iPhones are superior for my needs. Cost is actually pretty low on my priorities. I’m happy to spend more to have better.

But what I’m alluding to is that no one device is better than another for everyone. People who claim they are or that most people are better on either Android or iPhone are usually the ones lacking in the brain department.

 

[RaXoR]

It is sort of like Micro$lop that has conned people for years into believing they gotta have their product even when there are very good free alternatives and some of them are superior to M$,

The main difference between MS and Apple is that MS gives you much more freedom to do what you wish compared to Apple. Both Apple and MS sell underwhelming hardware that is overpriced but Apple is the king of that category with their shitty Mac Pro lineup.

 

[Aleks 2013]

iPhones are the most valuable phones on the market. They fetch far more at resale 12-24-36 months after purchase than their competitors often making them cheaper buys than these competitors which are priced only slightly cheaper. So long as you take care of them.

For example if you bought a Note 8 for £879 in the UK you can sell it today on Mazuma for £375 however an iPhone X that cost £999 would sell for £540 on the same site. This means the Note 8 has cost the user more over almost the same length of time. The difference compounds with older phones with iPhone 6S fetching more on resale than a 6 month younger Galaxy S7. Although maybe that’s because Apple still support their phones past 12-15 months after release.

Amusing, especially as this article has attracted the usual crop of clowns commenting that only people with more money than sense buy iphones!

Let's get something clear here....people commenting about the stupidity of someone buying an iPhone and paying the cost of them isn't being a "clown" its recognizing that there are viable alternatives. The fact that you even mention resale goes to show that your viewpoint is the same as someone that overpays for anything. "Gee, when I buy my next phone I need to be sure that I buy one with high resale". I have bought the last few Motorola phones (X, Z Play, etc) because I can pick one up for around $400 USD, save that again compared to buying a Crapple, have just as much functionality/performance and call it a day. My wife has been buying iPhones since the 5S came out and I tell her every time that she buys one it is a stupid decision from a financial standpoint because you are giving your money away for X amount of years and then will get some back. I bought my Moto X Pure for $450 brand new when they launched. I picked up the Z Play for grins when that launched and sold my X for $300. so I got to use my X for 33% of the total cost for the device for over 2 years whereas every iPhone she has sold she hasn't even gotten half back....you know why? Because every damned Crapple Fanboy and Fangirl has to go out and buy the latest iPhone when it launches so the market is flooded with them. Too much competition and the market value drops. You try to cite economics however your statements are not fully thought through. The fact that someone took the time to even compute this bunch of BS goes to show how much spare time some people have on their hands which is apparently too much. I see people with iPhones from all races, creeds, colors, and walks of life. They mean jack shite just like any other damned phone especially when they can be bought interest free from the carriers. SMH

You must be awesome in sales. In July of 2016 I bought Moto X Pure brand new from Best Buy for less than $250 including tax. If google is correct it was a month before Z Play release. I guess yours had the bamboo back.