Australians are likely to end up forking out almost $600 more than they are comfortable paying in order to get their hands on an iPhone 8.
The next generation iPhone is expected to be priced at about $1500 when the new range is announced in the early hours of Wednesday morning.
But new research from WhistleOut shows Australians are only willing to part with $920 to buy the latest Apple handset outright.
Younger users are willing to pay the most to buy the new iPhone outright, with 18- to 24-year-olds prepared to part with $1015, while 45- to 54-year-olds say they would pay $804.
The story is similar for those interested in getting the new iPhone on a contract. The data, based on a survey of more than 1000 people, shows Australians are willing to pay $75 a month, on average, for an average expected data allowance of 10GB a month.
That data plan for the iPhone 8 is expected to cost $100-$120 a month, 33% more than what the average person is willing to pay.
The cost of the new iPhone will push many people outside their comfort zone, says WhistleOut publisher Joseph Hanlon.
“We’ve been analysing the pricing of iPhone plans for the last decade and if history is any sort of a guide, Australians will have to pay $100 a month or more for the new iPhone if they want any kind of decent data allowance, or around $1500 to get the phone on its own and then buy a SIM-only plan on top of that.
“That pricing gives us a benchmark to work from and we can expect the touted price tag of $1500 to be fairly accurate for the new device, so we’ll have to go out of our comfort zone if we want to get the new iPhone outright.”
When it comes to buying the new iPhone on a plan, $75 a month will get you an iPhone 7 with 2GB-5GB of data. But with most people looking for up to 10GB of data, the average Australian will need to find an extra $25 or more a month to own the new version.
“We’ll know more once Apple announces the new phones with pricing on Wednesday morning, and the full picture should become clear when carriers announce their pricing before availability date, which is expected to be around September 22 in Australia and globally.”
The survey shows 49% of people interested in the new iPhone would prefer to buy it outright, while 51% would rather get it on a plan.
But not everyone is prepared to part with the money to upgrade immediately.
“Bearing the expected pricing in mind, it may not come as a surprise that almost two-thirds of people interested in getting the new iPhone aren’t expecting to get it this year because they think it’ll be too expensive,” says Hanlon.
He says expectations are high for the new handset, which marks the 10th anniversary of the release of the first iPhone.
“With costs for the new iPhone expected to be higher than ever, make sure you find the best deal for your usage needs by checking what’s available first before jumping in.”