Amid the launch of the Apple iPhone 16 and 16 Pro, a new Compare the Market Australia study has found Türkiye, Australia, and New Zealand have seen the biggest iPhone price increases over the years.
The home and contents insurance comparison experts studied the starting outright price of flagship iPhones since 2007 across eight countries globally.
Apple iPhone prices in Türkiye almost tripled in a 10-year period, increasing a staggering 3,235% (US$2,409). An iPhone 6 only cost $75 in 2014 in the Middle Eastern country – one of the cheapest at the time globally – but has risen to $2,482 for the latest iPhone 16 Pro.
This was due to multiple taxes imposed on imported mobile phones, in addition to an inflation spike in 2022.
Buying the iPhone 15 Pro in Türkiye would cost more than double the price than in the United States.
The USA had the lowest price increase in a decade at just 54% ($347).
Meanwhile, Australia and New Zealand had the second- and third-biggest price increases at 107% ($618) and 100% ($598) respectively in a 10-year period.
Compare the Market’s General Manager of General Insurance, Adrian Taylor, said the research has foregrounded the importance of protecting personal valuables.
“It’s no secret that smartphones have dramatically increased in price over the years, along with the introduction of larger displays, multiple cameras and faster processors,” he added. “However, they’re subject to the daily grind and could be accidentally lost or damaged. Replacing one can be a costly headache.”
A contents policy that includes cover for portable provides a level of peace of mind to protect one of the most essential devices in life, according to Taylor. But it pays to compare what’s on offer to find a policy that suits your needs and budget, he adds.
Taylor also says that you who’ll always read the Product Disclosure Statement (PDS) and Target Market Determination (TMD) to check for the inclusions, limits and restrictions before purchasing.
