Published: Tue, July 10, 2018
Industry | By Terrell Bush

Almost 70% of Americans who own an iPhone have a high income

Almost 70% of Americans who own an iPhone have a high income

According to Business Insider, the iPhone has become a source of information when it comes to predicting if an individual belongs to a higher-income class. Since the data is from two years ago, it doesn't even take into account last year's $999 iPhone X. Economists from the University of Chicago explained in a new paper that "no individual brand is as predictive of being high-income as owning an Apple iPhone".

In 2016, the list is dominated by technology-related entries, including iPhone ownership on top of the list, followed by iPad ownership, being on the Verizon Wireless network, owning an Android phone, used Kikkoman, HP printer ownership, being on the AT&T network, and Samsung TV ownership.

While the actual report isn't what you would call a page turner, it does say that based on 2016 data, no other brand is as "predictive" of having a high income as the Apple iPhone is. The economists used a machine learning algorithm to conclude that "cultural differences", or how common brands and experiences are across groups, aren't getting larger over time. By high-income, they meant being in the top quartile of income for households of that type.

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"This take-away runs against the popular narrative of the USA becoming an increasingly divided society", the researchers write.

WTF?! If for some reason you want people to think you're rich, you don't have to buy a Rolex or a Porsche, simply get yourself an iPhone. There are many ways to make it seem more affordable, but you still end up paying what Apple is charging for the handset, whether you go for outright purchases or installment plans.

iPhones being closely correlated with high income is a recent trend, according to the research. In 1992, some of the top brands that were associated with wealth in the United States, in no particular order, were Grey Poupon Dijon mustard, Kodak cameras, Kikkoman soy sauce, and Philadelphia Cream Cheese.

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