In a country where smartphones have become an integral part of our lives, Apple’s prestigious iPhone has taken control of the imagination of Indian consumers. However, there was a time when not everyone could afford to buy an iPhone because of its premium price tag. It was far beyond the reach of many due to the premium price tag of the iPhone. This remained the case until a game-changing trend emerged – EMI (Equated Monthly Installment). According to Sagar Sinha, nowadays, 70% of people in India purchase iPhones on EMI, which means they are buying them in installments despite not having the means, just for showoff.
The iPhone has historically held the reputation for being one of the most expensive smartphones available, making it a luxury item that was out of reach for many. However, with the introduction of Equated Monthly Installments (EMI), owning an iPhone has become more accessible to a diverse range of individuals, spanning from vegetable vendors to business magnates. Sagar Sinha, a renowned motivational speaker in India, highlights an interesting trend – he asserts that nowadays, India stands out as a country where a significant 70% of its populace purchases iPhones through EMI arrangements. They Don’t have the capability to buy but still buy just to show off in front of their girlfriend.
According to Sagar Sinha, buying an iPhone on EMI is a liability. If the youth of the country keep buying iPhones on EMI like this, then it will affect the economic condition of the country. The iPhone has remained only a means of showoff. Individuals purchase iPhones through installment payment plans and proudly display them to their acquaintances. The craze for iPhones is so high in India that people used to buy iPhones even after selling their kidneys. There are many such viral memes on iPhone.
There may be some reality in Sagar Sinha’s statement, but it is only one aspect. The importance of appearance has increased in modern society and its impact is especially on the younger generation. The iPhone is considered a prestigious brand symbol and people try to reinforce their social status by possessing it. It is indeed a kind of mindset that attracts people, but it can force them to forget the role of their economic status.
