Only one percent of cellphone users have an iPhone, and while it may seem like most iPhone owners are just dropping disposable income on the latest tech gadget (present company excluded, of course), that is changing rapidly. The fastest growing group of iPhone owners is lower income people,
according to ComScore.
43 percent of iPhone owners may earn in excess of $100,000 annually, but lower income people are increasingly viewing the iPhone as a one-stop alternative to buying multiple products that surf the web, play music and send email, says the study.
“A $200 device plus at least $70 per month for phone service seems a bit extravagant for those with lower disposable income,” said ComScore Senior Analyst Jen Wu. “However, one actually realizes cost savings when the device is used in lieu of multiple digital devices and services, transforming the iPhone from a luxury item to a practical communication and entertainment tool."
The fastest growth in iPhone sales this summer came from households with incomes below the median income. iPhone ownership rose 48 percent from June to August among households earning $25,000 and $50,000 a year, likely due to the drop in price to below $200. Adoption of smart phones in this segment grew 16 percent over that period, ahead of the market average of 12 percent.
