FOLDABLE PHONE AFFORDABILITY STUDY
HOW MANY DAYS WAGES WOULD IT TAKE TO AFFORD THE MOST EXPENSIVE SMARTPHONES IN 57 CITIES?
STUDY INTRODUCTION
During a time where consumers seek innovative technologies to justify purchasing smartphones worth over $1,000, foldable phones such as the Samsung Galaxy Fold and Huawei Mate X got announced with prices of $1,980-$2,600 in various territories. These devices are the most expensive phones ever to be broadly sold in global retail channels.
BankMyCell’s study shows just how many working days it would take to afford the Huawei Mate X, Samsung Galaxy Fold, and the S10 range in over 57 large cities around the world. In developed countries, they can be a reasonably affordable amenity, but in price-conscious markets across the globe where budget devices thrive, they are truly a luxury item.
CONTENTS & QUICK LINKS
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Use the links below to jump to the key areas of the study. We have detailed wage and cost of living comparisons for the Galaxy Fold and Mate X including where they rank in the most expensive phones ever released.
HUAWEI MATE X
57 COUNTRIES DAILY WAGES VS MATE X PRICE
HOW MANY DAYS WAGES DOES IT TAKE TO BUY A HUAWEI MATE X
At Mobile World Congress 2019, Huawei unveiled their Mate X foldable phone with a starting price of $2,600 in the US. Putting aside the gold, diamond encrusted and limited edition handsets of the past, this is the most expensive phone to be widely available through everyday retail outlets.
We collected the average wage after tax and cost of living data from 57 key cities around the globe via crowdsourcing service Numbeo to see just how many days it would take to buy a Huawei Mate X. As we mentioned in the study introduction, for price-conscious markets the Mate X is a luxury item.
ETHIOPIA, ADDIS ABABA: MOST WORKING DAYS REQ
Based on the average daily wages of $8.67 after tax, residents in the capital city of Addis Ababa, Ethiopia would have to work 299.8 days (82.13% of the year) to afford the entry-level Huawei Mate X.
SWITZERLAND, ZURICH: LEAST WORKING DAYS REQ
Based on the average daily wages of $272.39 after tax, residents in the capital city of Zurich, Switzerland would have to work 9.5 days (2.6% of the year) to afford the entry-level Huawei Mate X.
All the raw data for each region and device is available to download here alongside smaller cut down images for coverage.
HUAWEI MATE X
57 COUNTRIES COST OF LIVING VS MATE X PRICE
COMPARING MATE X PRICES AGAINST FOOD, DRINK, RENT, AND BILLS
To further illustrate the affordability of the most expensive retail facing smartphone, we took the cost of living data from all the regions in the previous dataset to show the best/worst case scenarios. The data below shows a comparison of what the Mate X value means to people in developed and price-conscious markets.
HUAWEI MATE X PRICE INTO MONTHS RENT
THE LEAST
The average rental cost of a 1-bed city center apartment in New York is $3,109.95, meaning you would only be able to afford 0.8 months’ rent for the price of your Mate X.
THE MOST
However, in the capital city of Accra, Ghana you could pay for over 3 years of a 1-bed city center apartment’s rent (35.9 months at $72.46) instead of buying the flagship phone.
HUAWEI MATE X PRICE INTO UTILITY BILLS
THE LEAST
The average rental cost of utility bills in Berlin, Germany is $274.54, meaning you would only be able to afford 9.5 months’ for the price of your Mate X.
THE MOST
However, in the city of Chittagong, Bangladesh you could pay for almost 8 years bills (92.7 months at $28.04) instead of buying the flagship phone.
*In terms of utility bills included, we’re counting electricity, heating, cooling, water, and garbage for an 85m2 apartment.
HUAWEI MATE X PRICE INTO RESTAURANT VISITS
THE LEAST
The average meal at a reasonably priced restaurant in Hamilton, Bermuda is $27.50, meaning you would only be able to afford 95 cheap meals for the price of your Mate X.
THE MOST
However, in the capital city of Islamabad, Pakistan you could eat at a restaurant daily for almost 4 years (1,453 meals at $1.79) instead of buying the flagship phone.
HUAWEI MATE X PRICE INTO DOMESTIC BEERS
THE LEAST
The price of a 0.5L domestic beer in Abu Dhabi, UAE is $10.89, meaning you would only be able to afford 239 beers for the price of your Galaxy Fold.
THE MOST
However, in the city of Hanoi, Vietnam you could go for a beer every day for 8 years (3,023 beers at $0.86) instead of buying the flagship phone.
All the raw data for each region and device is available to download here alongside smaller cut down images for coverage.
SAMSUNG GALAXY FOLD
57 COUNTRIES DAILY WAGES VS GALAXY FOLD PRICE
HOW MANY DAYS WAGES DOES IT TAKE TO BUY A SAMSUNG GALAXY FOLD?
At the press event on the 20th February 2019 in San Francisco, Samsung announced the Galaxy Fold with a starting price of $1,980 in the US and €2,000 in Europe. Putting aside the gold, diamond encrusted and limited edition handsets of the past, this made it one of the most expensive phones to be widely available through everyday retail outlets.
We collected the average wage after tax and cost of living data from 57 key cities around the globe via crowdsourcing service Numbeo to see just how many days it would take to buy a Galaxy Fold. As we mentioned in the study introduction, the starting price may not impact many consumers in developed countries but in price-conscious markets, the Galaxy Fold is a luxury item.
ETHIOPIA, ADDIS ABABA: MOST WORKING DAYS REQ
Based on the average daily wages of $8.67 after tax, residents in the capital city of Addis Ababa, Ethiopia would have to work 228.3 days (62.54% of the year) to afford the entry-level Samsung Galaxy Fold
SWITZERLAND, ZURICH: LEAST WORKING DAYS REQ
Based on the average daily wages of $272.39 after tax, residents in the capital city of Zurich, Switzerland would have to work 8.3 days (2.27% of the year) to afford the entry-level Samsung Galaxy Fold
All the raw data for each region and device is available to download here alongside smaller cut down images for coverage.
SAMSUNG GALAXY FOLD
57 COUNTRIES COST OF LIVING VS GALAXY FOLD PRICE
COMPARING GALAXY FOLD PRICES AGAINST FOOD, DRINK, RENT, AND BILLS
To further illustrate the affordability of the most expensive retail facing smartphone, we took the cost of living data from all the regions in the previous dataset to show the best/worst case scenarios. The data below shows a comparison of what the Samsung Galaxy Folds value means to people in developed and price-conscious markets.
GALAXY FOLD PRICE INTO MONTHS RENT
THE LEAST
The average rental cost of a 1-bed city center apartment in New York is $3,109.95, meaning you would only be able to afford 0.6 months’ rent for the price of your Galaxy Fold.
THE MOST
However, in the capital city of Accra, Ghana you could pay for over 2 years of a 1-bed city center apartment’s rent (27.3 months at $72.46) instead of buying the flagship phone.
GALAXY FOLD PRICE INTO UTILITY BILLS
THE LEAST
The average rental cost of utility bills in Hamilton, Bermuda is $262.51, meaning you would only be able to afford 7.5 months’ for the price of your Galaxy Fold.
THE MOST
However, in the city of Chittagong, Bangladesh you could pay for almost 6 years bills (70.6 months at $28.04) instead of buying the flagship phone.
*In terms of utility bills included, we’re counting electricity, heating, cooling, water, and garbage for an 85m2 apartment.
GALAXY FOLD PRICE INTO RESTAURANT VISITS
THE LEAST
The average meal at a reasonably priced restaurant in Hamilton, Bermuda is $27.50, meaning you would only be able to afford 72 meals for the price of your Galaxy Fold.
THE MOST
However, in the capital city of Islamabad, Pakistan you could eat at a restaurant for 3 years (1,106 meals at $1.79) instead of buying the flagship phone.
GALAXY FOLD PRICE INTO DOMESTIC BEERS
THE LEAST
The price of a 0.5L domestic beer in Abu Dhabi, UAE is $10.89, meaning you would only be able to afford 182 beers for the price of your Galaxy Fold.
THE MOST
However, in the capital city of Kiev, Ukraine you could go for a beer every day for 6.5 years (2,379 beers at $0.95) instead of buying the flagship phone.
All the raw data for each region and device is available to download here alongside smaller cut down images for coverage.
GALAXY FOLD & MATE X VERSUS
THE MOST EXPENSIVE PHONES EVER MADE
WHERE DO THE NEW FOLDABLE PHONES SIT IN THE LIST?
MOST EXPENSIVE PHONES EVER
Here we have the list of all the handsets of legend, many of which we have not heard of because they have never graced popular retail outlets due to their remarkable price tags. The Falcon Supernova iPhone 6 Pink Diamond tops the list at $48.5 million and would warrant its own bank safe and armored security detail if it ever appeared in a retail store. Out of all the most expensive phones in the world we could find online, the Mate X comes in at number 39th, and the Fold is ranked 38th.
| PHONE NAME (ALL) | PRICE (USD) |
|---|---|
| Falcon Supernova iPhone 6 Pink Diamond | $48500000 |
| Black Diamond iPhone 5 | $15300000 |
| iPhone 4 Diamond Rose Edition | $8000000 |
| Supreme Goldstriker iPhone 3G | $3200000 |
| iPhone 3GS Supreme Goldstriker Advanced | $3140000 |
| iPhone 3G Kings Button | $2500000 |
| Diamond Crypto Smartphone | $1300000 |
| Goldvish - Le Million | $1140000 |
| Gresso Luxor Las Vegas Jackpot | $1000000 |
| Vertu Signature Cobra | $360000 |
| VIPN Black Diamond | $300000 |
| Sony Ericsson Black Diamond | $300000 |
| Savelli Emerald Insane | $185000 |
| Vertu Golden phones | $180000 |
| iPhone Princess Plus | $176400 |
| Nokia 8800 Arte White Gold | $134000 |
| Ulysse Nardin Chairman - Diamond Edition | $130000 |
| Goldvish Eclipse - Desiring Arcadia | $105000 |
| Dior Reveries Haute Couture | $100000 |
| Savelli Champagne Diamond | $57000 |
| Ulysse Nardin's The Chairman | $49500 |
| Sirin Solarin Crystal | $14000 |
| Vertu Signature Touch | $10800 |
| Vertu Aster Diamonds Red Alligator | $10550 |
| Savelli Jarden Secret | $10000 |
| Mobiado Grand Pioneer | $9798 |
| Gresso Meridian Black | $9500 |
| Vertu Signature Touch for Bentley, | $9000 |
| Goldvish Eclipse - Magic Onyx Alligator | $7965 |
| Gresso Regal Gold | $6000 |
| Tonino Lamborghini 88 Tauri | $5250 |
| Regal Black Edition | $5000 |
| Goldgenie iPhone 6s Elite | $3599 |
| Mobiado Grand Touch EM Marble | $3100 |
All the raw data for each region and device is available to download here alongside smaller cut down images for coverage below.
SAMSUNG GALAXY S10 RANGE
50 COUNTRIES DAILY WAGES VS GALAXY S10 PRICE
HOW MANY DAYS WAGES DOES IT TAKE TO BUY A GALAXY S10?
We collected the launch prices for the unlocked Samsung Galaxy S10 / S10+ / S10e from Samsung’s website, network carriers and established online retailers per territory. Using this data we have compared it to the average wages of each location via Numbeo, and also compared the S10 pricing head to head with its rival the iPhone XS.
*Prices are for the most affordable, lowest storage sizes available S10e (128GB), S10 (128GB), s10+ (128GB) and iPhone XS (64GB).
All the raw data for each region and device is available to download here alongside smaller cut down images for coverage.
STUDY RESOURCES
OUR STUDY METHODOLOGY AND DOWNLOADS
STUDY DATA COLLECTION
- All cost of living and salary after tax data is taken from Numbero in March 2019 for each city in USD.
- The daily wage is calculated on an average of 21.62 working days a month.
- All device pricing is based on the lowest unlocked internal memory option to display the most affordable model in the data.
- Galaxy Fold pricing is based on the USD and EUR values that Samsung announced*
- Mate X pricing is from the Mobile World Congress announcement*
- Samsung S10 / S10+ / S10e and iPhone XS pricing are taken from the manufacturer’s website in each territory, where pricing was not present, the unlocked costs came from local network carriers or reputable retailers in each geolocation.
- All device prices are taken locally and converted into USD to match pair with the cost of living and salary data.
*Announcement pricing is based on what the manufacturer stated, this, of course, could change upon release.
