The Magnificent Rise Of The iPhone In Brazil Shows How It Has Nearly Become A Physical Currency Like Gold Throughout Emerging Markets | Exploring Markets

The Magnificent Rise Of The iPhone In Brazil Shows How It Has Nearly Become A Physical Currency Like Gold Throughout Emerging Markets

On February 15, 2014, Apple sold its first iPhone in Brazil. It was the same day Apple opened their first-ever store in the country too:



How much was each iPhone selling for on that day? $1,196.

That makes it the most expensive iPhone in the world. That also means, in several countries, it is selling for nearly the price of an ounce of gold. The table below shows which countries sell the most expensive iPhone, and perhaps more importantly, it shows the astonishing demand for Apple products in emerging markets: