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We all love iPhone even though most of us cannot afford and now according to a report conducted by Marianne Bertrand and Emir Kamenica from University of Chicago economists owning an iPhone is directly related to the wealth. Or in the simpler words, having an iPhone is a symbol of wealth.
If you own an iPhone X, then, you are more money than the one who owns an iPhone SE (pun intended). The report mentions that 69% of high-income people will own an iPhone, whereas 66% of high-income people will own an iPad as well. This also predicts that more than half of the wealthy people (top quartile of income for households of that type) prefer an Apple product, which explains the sale numbers of the Apple iPhone X, which is the most expensive iPhone from Apple till date (Rs 1,08,000).
This research has a sample size of 6,394 unique individuals and the data collected from these people is in souvenir of Apple. It also explains that more than half of the "wealthy-persons" will still buy an iPhone no matter what.
This is also true for the celebrities as well, most of the first-class people prefer an iPhone for (probably for the brand value that offers) and does not care about the feature the smartphone offers. Recently, Gal Gadot (famous female superhero aka the Wonder Woman) promoted a Huawei smartphone on Twitter, which was tweeted using an iPhone is just a simple example of an iPhone having the "rich people's smartphone" brand tag associated with the world iPhone or Apple.
What research revealed?
We analyze temporal trends in cultural distance between groups in the US defined by income, education, gender, race, and political ideology.
We measure the cultural distance between two groups as the ability to infer an individual’s group based on his or her (i) media consumption, (ii) consumer behavior, (iii) time use, or (iv) social attitudes.
If you own an iPhone, then, for the most part, you are rich and people already know it. If you just want to prove how rich you are, then just buy an iPhone and they will understand that you are a rich-person.