Lola J. King
0
All posts from Lola J. King
Lola J. King in Gadgets, Smartphones & Tech,

How much do you have to work to afford an iPhone?

If you think iPhones are pricey, spare a thought for those who have to work months to afford one.

The average New Yorker has to work just three days to be able to buy a new iPhone 6; Beijing residents have to spend 27 days at the office.


That's according to a new index of pay and prices in 71 global cities, compiled by Swiss bank UBS (UBS).

The ranking, which is published every three years, shows the wealthy residents of Zurich have to work the least, putting in just under 21 hours on the job before earning the cash for the must-have gadget.

Londoners have to slog a little more -- 41 hours -- while workers in Mexico City have to put in well over 200 hours, putting the luxury item out of reach for many.

The researchers found that Kiev has the worst iPhone affordability -- Ukrainians have to work an average of 627 hours -- or 78 days.

In Nairobi and Jakarta they have to clock up 468 hours, or nearly 59 days.

Locals who want to buy an iPhone 6 at this Sydney store will have to clock in 34 hours on the job, according to a new UBS report.

The research highlights how expensive Apple's (AAPL, Tech30) iPhones can be for locals in many global cities. That makes it easier for rivals to outsell Apple in many nations.

For example, India's homegrown phone giant Micromax has recently become the country's largest smartphone seller, according to research firm Canalys. In fact, India doesn't have a single Apple Store since the products are too expensive for average workers.

Meanwhile, Beijing-based smartphone maker Xiaomi has become one of the world's top five smartphone makers, and frequently outsells Apple (AAPL, Tech30) in China.

Earlier this year Xiaomi had its best sales day ever, selling 2.12 million smartphones in 24 hours and setting a Guinness World Record in the process.

Below is a list of the working hours required to buy an iPhone 6 (16GB) in each of these global cities, according to UBS:

  • Athens - 98.2 hours
  • Bangkok - 149.6 hours
  • Beijing - 217.8 hours
  • Chicago - 28.4 hours
  • Geneva - 21.6 hours
  • Hong Kong - 51.9 hours
  • Jakarta - 468 hours
  • Kiev - 627.2 hours
  • London - 41.2 hours
  • Los Angeles - 27.2 hours
  • Mexico City - 217.6 hours
  • Miami - 27 hours
  • Moscow - 158.3 hours
  • Nairobi - 468 hours
  • New Delhi - 360.3 hours
  • New York City - 24 hours
  • Paris - 42.2 hours
  • Rio de Janeiro - 139.9 hours
  • Rome - 53.7 hours
  • Shanghai - 163.8 hours
  • Sydney - 34 hours
  • Tel Aviv - 75.3 hours
  • Tokyo - 40.5 hours
  • Toronto - 37.2 hours
  • Zurich - 20.6 hours

Price and earnings data for this UBS report was collected in March and April. The UBS report was published on Thursday.

CNNMoney (London)