Fact: Plutocrats & Billionaires Prefer The iPhone

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Apple suppliers are enjoying huge revenue boosts thanks to the iPhone 6
Apple suppliers are enjoying huge revenue boosts thanks to the iPhone 6

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.

Source: LA Times

Via: TechCrunch