1. Akshay Masand's Avatar

    Consumers who are conscious of their status in Southeast Asian nations like Vietnam where iPhone sales doubled in the most recent quarter are snapping up Apple products in record numbers in an effort to “build a luxury image.” According to Vietnamese office worker Pham My Linh,

    This cost more than two months’ worth of my salary. But I need it, to feel more confident when hanging out with friends and colleagues.
    The sentiment is similar to those expressed by consumers in other developing Asian nations like China, where Apple’s handset was almost single-handedly responsible for driving early adoption of China Mobile’s new 4G network. Apple has seen an aspirational brand for less-affluent Asian consumers who are often willing to go into debt or sacrifice in areas such as housing in exchange for the more public display of prosperity that comes with owning one of the company’s instantly-recognizable products. The view is backed up by the company’s recent sales boom in Vietnam, one of the poorest countries in the region.

    In three of Apple’s fastest-growing markets, India, China and Vietnam, the highest per-capita income is China’s $5,720, with India and Vietnam clocking in at just $1,550 each. This means that the $649 unsubsidized cost of a 64-gigabyte iPhone 5C can set buyers back 40% or more of their yearly salaries. For those who are unable or unwilling to purchase an iPhone, Reuters notes that knockoff iPhones that sell for as little as 2 million Vietnamese dong ($95) are an easy substitute. The shop owner Nguyen Duc Hai said the following regarding the matter:

    There are a lot of people out there who can't afford an iPhone but still want to look rich, which is why shops like mine can do well. Why pay 10 times more for a real iPhone just to build a luxury image and show off?
    The Cupertino California has steadily been stepping up its efforts in Southeast Asia as demand grows. The company recently brought back its Indonesian store, for instance, and runs yearly “Red Friday” sales in China, Hong Kong, Malaysia, Singapore, South Korea, Taiwan and Thailand which brings discounts in advance of the lunar New Year.

    Source: Reuters

    Twitter: @AkshayMasand
    2014-04-26 08:02 AM
  2. buggsy2's Avatar
    Or sell their body parts for an iPhone. Sad but very Asian.
    2014-04-26 04:42 PM
  3. mlee19841's Avatar
    Or sell their body parts for an iPhone. Sad but very Asian.
    It's crazy that people really do that just for a phone.
    2014-04-26 07:14 PM
  4. BhadKarma's Avatar
    It's crazy that people really do that just for a phone.
    Organs and all, what a kidney ? No problem ... 1/2 of my kidneys shud pay for half of the phone ;p
    2014-04-27 04:02 AM