• Turns out the new iPhone7 could be a rather informative measure of relative living standards. (Getty Images)Source: Getty Images
Could you use a piece of pop culture as a measure of relative living standards? One company did and the results are shocking.
By
Shami Sivasubramanian

7 Oct 2016 - 2:46 PM  UPDATED 7 Oct 2016 - 3:11 PM

The new iPhone 7 might be the hottest gadget to hit our shelves this year, but it turns out the cool new phone could be a rather informative measure of poverty and relative living standards.

Malaysian online shopping site and marketing company, iPrice, has released an eye-opening infographic that lists how many days of full-time work it would take to be able to afford an iPhone7 in a half a dozen countries within South East Asia.

As a comparison, it also lists it would take four days on average to earn enough to afford an iPhone7 if you lived and worked in the United States.

These figures are calculated by dividing the price of an iPhone7 in each country by the country’s average daily wage. 

The calculations factor in that the iPhone7 is priced very differently each country. These different prices are not a function of exchange rates, but other costs associated with selling the new smartphone in a foreign country.

Using iPrice's same method, we at SBS calculate it would also take Australians an average of four days to purchase an iPhone7, which the same time it would take an American. 

According to the Apple website, a 128GB 4.7-inch iPhone7 costs AUD$1229.00. The average weekly earnings in May was $1,516. Divide that by five working days a week, the daily average wage was $303.20.

Smartphones, like the iPhone7, have the potential to connect people in remote communities, and allow people the chance to access life-changing and sometime live-saving apps.  

So the fact in some countries it could take 26-times longer to earn enough to buy an iPhone7 than it would in the US says a lot about global income inequality.

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