Here’s how much you should work to afford the Samsung Galaxy Fold

Gone are the days when smartphones were praised for featuring selfie cameras and a decent screen resolution. Now, there are innovative technologies that have made brands price smartphones over $1,000 (approx. Rs. 70,000). One such innovative category is foldable smartphones.

Many brands are working on bringing foldable smartphones to the market but only Samsung and Huawei have unveiled these models. Well, the talk is about the newly launched Samsung Galaxy Fold and Huawei Mate X. These phones are priced ranging from $1980 (approx. Rs. 1,38,000) to $2600 (approx. Rs. 1,81,500) depending on the region. At this pricing, these are the most expensive smartphones available in the market right now.

BankMyCell known for cell phone trade-ins in the US has conducted a study to show how many days you will have to work to buy these two phones. The study shows how many working days it would take to afford the latest generation flagship smartphones in 57 large cities across the world. While it will be easy for people in developed countries to afford these phones, it will cost a fortune for those in price-conscious markets.

How many days it will take to buy these phones

Talking about the study, the average gross wages earned by a person in Mumbai is $591 (approx. Rs. 41,000) per month. So, it would taken the person 72.4 working days to buy the Samsung Galaxy Fold. In this cost, an average Mumbai citizen can rent a 1-bed city center apartment for 18.1 months, pay all apartment utility bills for 50.6 months, dine at reasonably priced restaurants 692 times and buy 1106 domestic 0.5 liters of beer, claims the study.

Likewise, to afford the Huawei Mate X, an average Mumbai citizen will have to work for 95 days. Instead of this, the person can rent a 1-bed city center apartment for 23.7 months, pay all apartment utility bills for 66.4 months, dine at reasonably priced restaurants 909 times and buy 1453 domestic 0.5 liters of beer.

This places India in the 16th place among the 57 countries considered for the study by BankMyCell. Some of the other cities that were also considered in the study include Addis Ababa in Ethiopia and Zurich in Switzerland.