Exploring the Premium Market: Is Anyone Really Buying an iPhone X for 1 Lakh Rupees in India?

In today's era, there is a clear shift in consumer behavior towards expensive yet status-symbol items. Be it the latest iPhone X, Samsung Galaxy models, high-end DSLRs, or even limited edition motorcycles, people tend to invest in these items rather than financial policies. This article delves into the reasons behind this trend and the implications it has for modern-day consumers.

Why People Invest in Expensive Possessions

The allure of investing in expensive possessions stems from the ability to flaunt them. In today’s interconnected world, social media platforms have become a repository for showcasing one's lifestyle and belongings. People often spend money on such items to indicate their social and professional status. This behavior is not limited to a specific age group; in fact, individuals ranging from age 23 to 30 are equally susceptible to these trends.

The concept of flaunting possessions is deeply ingrained in our culture. Whether it's an Iphone X, a high-end digital camera, or a ride on a luxury motorcycle, people often use these items as a symbol of wealth and social standing. This practice can be observed even in places where black money is a prevalent issue.

Reasons Behind the Trend

Why do people opt for such expensive items over more practical and long-term financial investments like mutual funds? The simple answer lies in the ability to impress and showcase. Financial policies and mutual funds, on the other hand, are not as readily visible to the public. They are more about enhancing one's financial security in the long run, which is certainly less glamorous.

For individuals who have financial stability, the emphasis on owning premium goods is less about necessity and more about demonstrating success to others. Unfortunately, many people, including those who understand the value of financial planning, are still drawn to these status symbols.

Personal Experiences and Insights

I, too, have been a passionate user of iPhone devices, having owned and used various models over the years. Initially, the idea of purchasing the iPhone X was appealing, but upon learning its price tag of more than 1 lakh rupees, I realized it was unwise to spend such a significant sum on a single item. Many others share similar sentiments, which makes the $1 million quote resonate more often than expected.

My current device is an iPhone 6s, and I have not upgraded to the iPhone 7 series for several reasons:

The display is still based on LCD, which is inferior to the OLED screens found in newer models. The absence of a headphone jack, which is a feature now available on most mid-range smartphones. There has been no significant change in the features or performance of the iPhone series.

However, it is important to note that brand loyalists, such as businessmen and celebrities, are likely to invest in these premium devices. They often have the disposable income to do so, while the rest of us have to choose between brands like Samsung or LG, or simply stick with our current devices.

Technical Considerations

Another factor that deserves attention is the technical specifications of these devices. The brightness of the display is a significant factor for many consumers. For instance, the iPhone X has a 625 nits of brightness, which is comparatively lower than other high-end smartphones like the Samsung Note 8 (1200 nits) or the Samsung S8 (1000 nits). This technical detail is worth considering for those who prioritize display quality.

Ultimately, the shift towards premium purchases can be seen as a reflection of changing consumer attitudes. While some may question the wisdom of spending such significant sums on a single item, the allure of status and the desire to impress continue to drive this trend.

Conclusion

In a nutshell, while there are people who are willing to spend hundreds of thousands of rupees on a single device, like the iPhone X, it is important to consider the long-term benefits of financial planning over the short-term allure of premium purchases. This article aims to shed light on this phenomenon and prompt readers to think critically about their own consumer behavior.