That’s an interesting contrast—it shows how strong Apple’s brand loyalty is despite concerns about price. People might see iPhones as status symbols or essential tools, making them willing to take on debt to keep up with the latest model. Do you think Apple’s pricing strategy is justified by its innovation and ecosystem? 90% of Americans Think iPhone 16 Cost Too Much.
Phones have never been more essential—and more expensive. While the cost of other once-pricy electronics, like televisions, has steadily decreased, the days of signing up for a new carrier plan in exchange for a free phone are long gone.
Phones have become a central part of daily life in ways that other electronics never reach. From socializing to working, shopping, and navigating, it’s difficult to imagine life without them. Yet, these indispensable devices come with a hefty price tag.
Among the most recognized and often debated phone brands, Apple’s iPhone stands at the top of the list. Known for its sleek design, powerful hardware, and cutting-edge features, the iPhone has cultivated a strong brand following, as well as a reputation for high prices.
The iPhone 16 lineup made its grand debut at Apple’s Glowtime event week 10. September 2024, with pre-orders officially starting on September 13. Yet, despite the fanfare surrounding the release, a significant number of consumers are finding the prices of Apple’s latest phones to be increasingly hard to justify.
A recent WalletHub survey conducted in 2024 revealed that 63% of respondents said inflation would prevent them from purchasing the iPhone 16 this year.
This stark reality reflects the growing financial strain many consumers feel when faced with the soaring cost of living and the high price tags attached to the latest tech. For many, the decision to skip a new iPhone isn’t just a matter of desire—it’s a matter of necessity.
In the same survey of approximately 200 participants, a staggering 90% of respondents agreed that Apple’s phones are overpriced. While the iPhone lineup has held steady with similar pricing from the previous year, the cost is still high.
The iPhone 16 starts at $799, the iPhone 16 Plus at $899, the iPhone 16 Pro at $999, and the iPhone 16 Pro Max at $1,199. These prices are far from trivial, especially when compared to the cost of many other smartphones on the market.
Interestingly, phones from other brands often come with similar price tags. However, it’s Apple’s reputation that tends to align with the expense. Consumers have come to associate the iPhone with quality, innovation, and status, making the brand’s premium pricing somewhat easier to digest for those willing to pay. But for the majority of people, the question remains: Are these features really worth the cost?
The WalletHub survey also revealed that 42% of Americans believe owning the latest phone is crucial for maintaining a strong self-image. This desire to keep up with the latest trends has fueled the perception that a new iPhone symbolizes wealth, success, or simply a high standard of living.
In fact, 30% of those surveyed said they assume someone with the latest iPhone is rich, while 27% see them as wasteful.
This connection between owning the latest tech and having a certain social status is hard to ignore.
With so many people viewing the iPhone as a status symbol, it’s no surprise that many are willing to go into debt to own the newest version. The survey revealed that 40% of respondents would be willing to put the latest iPhone on their credit cards, even if it meant accumulating debt. While this may sound shocking, it speaks to the larger societal pressures we face.
The desire to project success and modernity can often outweigh practical considerations like cost and financial responsibility. For some, the idea of being left behind or not having the newest model is simply unacceptable, leading to decisions that may not be in their best financial interest.
It’s important to note, however, that there are plenty of high-performing, less expensive phones out there—many of which are made by Apple itself. The iPhone SE, for instance, offers many of the same capabilities as the iPhone 16 but at a significantly lower price point.
The iPhone SE has remained a strong option for those looking for the iPhone experience without the steep cost. But for some, it’s the prestige associated with the latest iPhone that ultimately drives their decision to spend.
If you’re not among those willing to shell out hundreds of dollars for a new phone, don’t worry—you can still make the most of your current device. The first step is to ensure your iPhone is running the latest software.
Innovation iOS
The latest version of iOS, iOS 18, was released 16. September, and it promises to deliver many of the features that are being advertised with the iPhone 16. Some of these features, like Apple Intelligence, will be available to older models as well, depending on your device’s compatibility.
Apple has made a point to highlight that every new iPhone model is faster, lasts longer on a single charge, and offers more storage. But often, taking a few moments to adjust settings and optimize your current phone can lead to noticeable improvements. There are many easy tricks and tips for speeding up your device.
For example, you can disable certain background apps, remove unused widgets, and adjust settings that affect performance. These changes can lead to a smoother user experience and help extend the lifespan of your phone.
Battery Life
Another area that many people overlook is battery life. A few simple adjustments can significantly boost the time your phone lasts on a single charge. Consider turning off location services for apps you don’t regularly use, enabling low-power mode when your battery is running low, and reducing screen brightness. These small tweaks can help you get through the day without needing to plug in.
Finally, if your iPhone is plagued with the dreaded “Storage Almost Full” message, it’s time for a cleanup. You can start by deleting unused apps, clearing out old photos and videos, or transferring files to cloud storage. With just a little effort, you can reclaim valuable space on your device and keep it running efficiently.
In the end, while the latest iPhone may be out of reach for many due to its price tag, there are plenty of ways to maximize the life and performance of your current phone. With a little attention and some smart tweaks, you can make the most of your device without breaking the bank.
My title is Senior Features Writer, which is a license to write about absolutely anything if I can connect it to technology (I can). I’ve been at PCMag since 2011 and have covered the surveillance state, vaccination cards, ghost guns, voting, ISIS, art, fashion, film, design, gender bias, and more. You might have seen me on TV talking about these topics or heard me on your commute home on the radio or a podcast. Or maybe you’ve just seen my Bernie meme.
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