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Conina said:
areason said:

They don't have the money, people are spending a rather significant part of their income over a phone.

So what? If they see enough value in it. Less money they can spend on tobacco, alcohol and tourism

And that "phone" can replace dozens of other devices: https://www.geckoandfly.com/13143/50-things-smartphone-replaced-will-replace-future/

You need to compare the iphone to it's competition. It is overpriced compared to android devices.

If consumers were price sensitive they could get the same iphone that they have now for a cheaper price, but they aren't.