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 analysed 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 were 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 poplar 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.
This is an excerpt from the full press release. Since this document exceeds the limit allowed via email, please visit this link to view the PDF version of the entire press release: https://sweetspotpr.
To view the results and full methodology of the study, please refer to the results page here: https://www.grover.com/
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