On Wednesday, September 7, 2022, Apple announced the iPhone 14 and iPhone 14 Pro Max at the Far Out event. The company also unveiled the Apple Watch Series 8, the Apple Watch Ultra, and the Apple Airpods Pro, among others.
As one of the most popular smartphone brands globally, many users dream of using the iPhone 14 and iPhone 14 Pro, but for most Nigerians, that is a dream they may never see come true.
Picodi, an eCommerce platform that provides coupon codes for online shoppers, recently revealed that an average Nigerian would have to work for 304.9 days while saving all their earnings to afford the iPhone 14 Pro.
Methodology
To arrive at this conclusion, Picodi compared the price of the iPhone 14 Pro (128GB) with the average earnings in different countries to arrive at the iPhone Index. Using income data from Numbeo, which put the average monthly wage in Nigeria at ₦71,549.83 ($161.77), Picodi estimated that an average Nigerian would have to work for 304.9 days to afford the iPhone 14 Pro, which retails at ₦1,039,000 ($2,350).
However, even that may be too optimistic as the national minimum wage in Nigeria is ₦30,000, meaning that an average Nigerian will have to work for 1,039 days to afford the iPhone 14 Pro. Picodi’s report also points out that the cost of buying an iPhone has steadily increased from 91.2 days in 2018 to 304.9 in 2022.
How do other countries stack up
Of the countries surveyed by Picodi, Switzerland came out tops, with an average Swiss needing to work for 4.6 days to afford the iPhone 14 Pro. The United States, Australia, United Arab Emirates, and Luxembourg round up the top five with 5.7, 6.1, 6.5, and 7.1 days respectively. In South Africa, the only other African country listed in the survey, citizens would have to work for 26.9 days to pay for the iPhone 14 Pro.
***** exchange rate used is $1 = ₦442
