Apple showcase events are some of the most eagerly anticipated dates on the tech calendar, with people worldwide watching live for a glimpse at the latest offerings from the tech giant.
Like most years, Apple unveiled its latest flagship iPhone handset at its September event, but against a cost of living crisis for some it could be the least affordable yet, despite price cuts in some markets.
So, how much does the new iPhone cost, and how affordable is it around the world? Read our iPhone Affordability Index to find out.
What do we know about the iPhone 15?
Apple unveiled the iPhone 15 at its September event, promising an enhanced camera, faster GPU and better battery life.
Along with the usual updates customers have come to expect from a yearly flagship release, the iPhone 15, along with the iPhone 15 plus, iPhone 15 pro and iPhone 15 pro max, also features one of the most significant changes in iPhone history - the inclusion of a USB-C charging port, instead of the traditional Apple lightning port.
The change, brought on by EU rules means the iPhone 15 will be more compatible with third-party accessories and chargers, allowing people outside of the Apple ecosystem to share cables.
How much does the iPhone 15 cost?
As always, the cost of the latest iPhone varies across the 30+ markets the new handset is available in and what spec you’re looking to purchase. In the UK, the iPhone 15 will cost around £100 less than its predecessor making it one of the more affordable, with a base price of £799 - £1499 depending on the model, though in the US, prices will remain about the same year on year starting at an average of $829
Turkey will see the most expensive iPhone 15, with the 128GB iPhone 15 starting at a whopping £1,491 ($1,857), more than double the cost in the UK and US.
How many hours does it take to buy an iPhone 15?
How affordable the iPhone 15 is will vary based on the country you’re living in, with some seeing the most expensive iPhone yet.
To calculate the affordability of the iPhone 15, MoneySuperMarket compared the cost of the iPhone 15 across a range of countries* to the median annual salary for each one, calculating the number of hours people around the world will need to work to earn enough money to buy an iPhone.
Note - With local taxes varying by State and Province, prices for the United States and Canada are an average of the cost of an iPhone 15 128GB at the highest and lowest rate of tax.
All info below is based on the 128GB base version of the iPhone 15
Least Affordable - Turkey
Based on the iPhone 15 128GB base model, Apple fans living in Turkey will have to work an average of 818 hours to earn enough money to buy the iPhone 15 - that’s roughly 102 working days (or more than 3 months) before we even account for living costs, in part thanks to inflation within the country.
Compared to last year’s iPhone 14 base model, people in Turkey will need to work an additional 53 hours, or 6 days to buy the phone, up from 756 hours (96 days) last year.
To buy the most expensive standard model available in the country, the iPhone 15 pro max 1TB, people in Turkey would need to work for a staggering 1522 hours, or 190 days, roughly six months.
Most Affordable - Switzerland
With an average annual salary of $79,270, people living in Switzerland would need to work just 4 days (34 hours) to buy the iPhone 15. This rises to just 8.6 days (69 hours) for the most expensive pro max model.
While having one of the world’s largest median annual salaries, Switzerland also ranks in the top 10 countries that pay the least for the iPhone 15.
How many hours would it take to buy an iPhone 15 in the UK and USA?
Thanks to a lack of price increases in the UK and USA, this year’s iPhone shouldn’t take much longer to pay for in the UK and USA than its predecessor. However, with many facing a cost of living crisis, it will be interesting to see just how many are willing to spring for this year’s update.
In the UK, a base iPhone 15 would take around 10 days (81 hours) for someone on an average salary to afford, while in the USA it would take around half this at 6.5 days or 52 hours.
Map: The number of hours needed to purchase an iPhone 15 around the world
Most Expensive iPhone - Turkey
Turkey also has the most expensive base iPhone 15 in the world, costing approximately £1487 ($1,857), including taxes.
Cheapest iPhone - China
Apple users in Hong Kong will see the least expensive iPhone 15, with the 128GB option starting at £660 ($823).
However, someone earning the average salary in China will earn the equivalent of the cost of an iPhone 15 in 196 hours or 24.5 working days.
iPhone 14 vs iPhone 15
Early previews are hailing the iPhone 15 as an improvement on its predecessor, the iPhone 14.
However, for many the main selling point of this year’s model will be the inclusion of USB-C compatibility and charging, in some ways making the iPhone 15 a fairly significant model in the company’s history.
While Apple diehards will want the latest and greatest iPhone on the market and take advantage of its improved GPU and camera, for some the launch of the iPhone 15 might give them an opportunity to get a good iPhone 14 deal as price drops hit across retailers.
Based on the launch RRP, this is how the iPhone 15 stacks up to the iPhone 14 and iPhone 13 on affordability at launch:
When does Apple announce the new iPhone?
Unlike some tech brands, Apple doesn’t usually unveil new products at large tech conferences like CE3. Instead, the multi-billion dollar tech giant hosts its own keynotes and events across the year to showcase the company’s latest products and services, such as the latest iPhone, Air Pods, Mac Book, or iPad.
These events are typically streamed live across the world to millions via webcast and social media, but previous years have also drawn crowds and journalists eager to see the latest and annual offerings of Apple products.
When do Apple events take place?
Apple typically holds four showcase events a year, usually one in the Spring, a Summer event and then two in the autumn. However, they have been known to skip or add events from year to year and keep a calendar on the Apple website.
As a rule of thumb, Apple events typically showcase the following tech:
Spring (April) – iPads and the SE version of the latest iPhone
Summer (June/July) – New software and iOS updates
Autumn (September) – The latest iPhone and Apple Watch (usually their biggest event)
Late Autumn (October) – MacBooks and iPads
Find the latest iPhone prices:
Using the median monthly salary by country (OurWorldInData, Numbeo) we calculated the daily earnings for each country listed based on a typical 8 hour day.
We then divide the cost of the iPhone 15 across available markets by our approximated average hourly pay scale, using prices sourced directly from the Apple website and Nukeni.
Prices are inclusive of taxes. For the U.S and Canada where taxes vary by state/province, we used the average of the highest and lowest rate to find a national average.
Currency conversion using Google. Correct as of 09/09.