Apple sold 54 lac iPhone in the year 2021 in India. This is in stark contrast to their sales in the US where Apple sold 2.49 Crore units in the same year. That’s almost 5 times more in a country with a population less than a third of India’s.
India is a much larger population and there has been a steady increase in the earning potential of young Indians. An iPhone, being a large aspirational purchase is often purchased using a credit card, which cuts out a large portion of Indians who are not interested in starting an EMI for an iPhone.
Below is a complete guide on how you can save for an iPhone in India in 2022.
Once you have the money or means to buy an iPhone, the options available in the market are many. You could walk into one of the big retailers or order one online from home. The scenario is not so same for someone like you who plans and saves for their purchase.
Here are a few ways you can save for an iPhone purchase in India.
This is the simplest way that you can save for an iPhone in India. All you have to do is put aside some money in your savings bank account and not use it for your expenses.
A growing number of Indians are getting creative with their savings. They create an SIP (or invest manually) every month with a portion of their earnings into a mutual fund. When they are ready for their purchase they liquidate their funds for a cash purchase.
Hubble is a way you can save for your iPhone just like you save in your bank account. A big difference is that you get 10% assured cash rewards each time you save towards your goal of buying an iPhone. This means that you effectively get 10% more value on the money that you save.