In September, about 55 lakh people searched for ‘iPhone 7′ on Google, so it’s not surprising that the first batch of iPhone’s sold out in a few days in India.
Most folks bought it for themselves but a few smart ones bought it and promptly sold it to someone else at a profit.
We understand the frenzy – It’s a great product and a joy to use. Congratulations to those who were able to buy it. For those unlucky ones who were unable to buy it, read on.
Have you thought about how much it will really cost you to own an iPhone 6 or iPhone 6 Plus over your lifetime ?
At today’s current prices of Rs 53,500 onwards for an iPhone 7 going all the way up to Rs 80,500 for an iPhone 7 Plus – Rupees 80 freaking thousand !!
Thats’ a lot of money to pay for a phone – One that you will use for a maximum of 2-3 years.
Instead of buying the iPhone 7, if you had instead decided to invest it in the equity markets and decided to forget about the investment for a couple of years, here is how much money you can potentially make:
Scenario for iPhone 7 – Investing Rs 53,500 instead of buying it,
- In 10 years, you will have Rs 2.15 lakhs
- In 20 years, you will have Rs 8.75 lakhs
- In 33 years, you will have Rs 53 lakhs (Yes, your money will grow 100 times thanks to a superpower called compounding)
Scenario for iPhone 7 Plus – Investing Rs 80,500 instead of buying it,
- In 10 years, you will have Rs 3.25 lakhs
- In 20 years, you will have Rs 13.15 lakhs
- In 33 years, you will have Rs 81 lakhs (Yes, your money will again grow 100 times )
So yes, that’s what is the future value of your iPhone 7 today – one that will become obsolete in a few years.
We are all for consumption and buying what you want – After all, what’s the point of earning money if you can’t spend it.
This post is meant for those who might want to make a more informed decision.