How Long Must Someone Work To Afford An iPhone Around the World? Data Study Investigates
The iPhone Price Index
Data study compares the number of hours someone earning the minimum wage must work to afford the latest iPhone in different countries around the world.
- Out of the 50 countries in the study, workers earning the minimum wage in the United States must work #18 most to afford an iPhone 13, working 114 hours.
- Workers earning the minimum wage in Venezuela would have to work the longest to afford an iPhone 13, at 7,062 hours, or the equivalent of working full time for more than three years. This is nearly double the length of time needed compared to second-place India (3,667 hours).
- Workers in China, Thailand, and Vietnam, countries in which iPhones are manufactured, must work 680 hours, 760 hours, and 917 hours to afford an iPhone 12 respectively.
- Danish citizens must work the fewest hours at minimum wage to afford the latest iPhone, clocking in 63 hours at minimum wage. Norway is in a close second with 64 hours required.
Berlin, Germany, February 2022 – Grover.com, the consumer electronics rental company, has released a study that examines the affordability of the latest iPhones in countries around the world, assessing the number of hours someone needs to work earning each country’s minimum wage to afford the iPhones 12 and 13. It follows their recent study that analyzed the current prices and affordability of popular electronic goods around the world. As first-hand observers of the pandemic’s impact on the global economy, Grover was motivated to refine their initial study to examine the affordability of the latest iPhones for workers earning the country’s minimum wage.
How the Study Was Conducted
The index was conducted as part of a larger study that examined the costs of popular electronics in addition to their availability around the world. The iPhone Price Index began by collecting data on the inflation-adjusted minimum wage as of 2021 in 50 countries around the world, as well as the average cost of the latest iPhones in local brick-and-mortar consumer outlets. In order to achieve comparable price data, currency areas, prices, and salary levels were expressed in local currencies and converted into EUR. The researchers then used this data to calculate how many minimum wage working hours it would take in each country in order to afford an iPhone from a brick-and-mortar store.
To view the results and full methodology of the study, please refer to the results page HERE.