Fact: Plutocrats & Billionaires Prefer The iPhone

Fact: Plutocrats & Billionaires Prefer The iPhone

There’s always been a stigma around Apple products that they’re really just made for rich people. Almost all of Apple’s machine’s cost well over $1000, and the iPhone and iPad are two of the most expensive products in their categories.

Some people say only rich people can afford Apple products, and maybe they have a small point.  A recent report shows that Apple is the company of choice for users whose net worth is more than $100,000, and it just become more popular the more money you earn.

According to a report from Spectrem Group, when it comes to smartphones, 46% of people who make over $100,000 a year own an iPhone. Android only grabs 34% of the marketshare. As wealth increases so too does the likelihood that a person owns an iPhone.

Among users who make more than $1 million, 48% own a iPhone and 33% own an Android. Then when you look at the $5 million mark Apple’s marketshare jumps up considerably to 59% while Android only holds on to 25%.

The same holds true with the iPad as well. Catherine McBreen, Spectrem Group’s managing director, said that wealthy persons tend to be older and are more likely to stick with Apple because iOS is a platform they’re comfortable with, and they’re not looking to quickly switch from gadget maker to gadget maker looking for the hottest new feature.

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  • destroysall

    Reminds me of an old article I read once that stated that Apple users were more fashionable than PC users. Interesting indeed.

  • Ed_Kel

    It’s outrageous to think that any point can be made that Apple is geared towards richer people! The mere fact that richer people buy more expensive things is the only conclusion one can contextually bring from that argument. Many percentages were thrown out there to prove the point but I’m willing to bet that Apple’s primary target market is the middle class, or individuals making less than 100k. It’s expensive for Apple to create their products, concluding that their profit margins are made simply by volume of overall sales. It’s not like they’re marking up prices to appeal to the higher class; they focus on making the best – something that anyone, regardless of wealth can appeal to and/or appreciate.

About the author

Buster HeinBuster Hein is Cult of Mac's Senior News Editor and lives in Phoenix, Arizona. Twitter: @bst3r.

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