Wealthy Americans Prefer Apple Inc. (NASDAQ:AAPL) iPhone To Samsung’s Galaxy

iphone

The Apple Inc. (NASDAQ:AAPL) iPhone is the smartphone of choice for Americans living in states with higher incomes. In contrast, people in states with lower mean incomes have been shown to prefer Samsung’s Galaxy smartphones, according to a survey done by internet marketing firm WebpageFX.

To come up with the conclusion that wealthy Americans own an iPhone as opposed to a Galaxy handset, the researchers analyzed some 30 million smartphones. First, the analysis showed that iPhone and Galaxy combined made up two-thirds of the 30 million smartphones studied.

Second, the analysis of the 30 million smartphones showed that there is a correlation between people’s income and the smartphone brand they own. The analysis by WebpageFX revealed that iPhone is the smartphone brand of choice among people who living in the higher mean incomes states. In contrast, people in lower mean incomes states are most likely to settle for a Galaxy handset.

iPhone controlling 50% share of market in high-income states

In high-income states such as Hawaii, Alaska, New Jersey, Massachusetts and Connecticut, Apple’s iPhone controls more than 50% of the smartphone market share. However, in low-income states such as South Carolina and New Mexico, iPhone has a minority market share of between 40% and 35%.

“In correlation to each states’ mean income reported from the 2015 census data, we found that there is a positive correlation between iPhone market share and higher income states,” said the research firm WebpageFX.

However, there are cases where interest in iPhone seems to defy the correlation between incomes and smartphone demand seen in most states. In places like Louisiana and Mississippi, two states with the lowest median incomes, iPhone is still the most popular smartphone brand with more than 50% share of the market.

Product variety

Though there is no huge price difference between iPhone 7 Plus ($770) and Galaxy S7 ($695), it seems the fact that Samsung still maintains a wide variety of low-cost smartphone makes it the preferred choice of low income consumers.

Apple stock added 0.78% in the last session to close at $113.05. The company declined to provide first weekend sales for the latest iPhone on the market, the iPhone 7.

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