Published on January 22nd, 2017 | by Mark Chesnut
The $97,000 iPhone: The Best (& Worst) Places To Shop in Latin America
Is it worth traveling to buy an iPhone? Globetrotters regularly plan trips to various destinations around the globe to get great deals on electronics, clothing and other items. But if you’re shopping for an iPhone, there is one place in particular that you should avoid: Venezuela, where the price tag soars above $97,000. That’s right. More than $97K, U.S.
It’s not that Venezuela’s tech wizards have somehow come up with a new model of the iPhone that makes it worth so much more. It’s just that out-of-control inflation and market conditions have pushed the price beyond the limits of believability (but believe it).
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The online retailer Linio recently conducted a study of the cost of various electronic devices around the world, and found that the prices vary widely from country to country, including between neighboring regions. The investigation took into account diverse factors including taxes and inflation — and the company found that the device with the wildest variations on prices is the Apple iPhone. In long-beleaguered Venezuela, where inflation, corruption and mismanagement is a constant problem, the cost for an iPhone comes in at a whopping $97,813 — making it the single most expensive place on earth. The runner up, Singapore, was a distance second, with an average price of $969.
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Elsewhere in Latin America, the cost of an iPhone varies, though not as much. But it’s still worth comparing prices before you decide to upgrade on that next Latin America shopping trip.
The prices listed in the study don’t include the cost of cell phone service, but do include comparisons between online suppliers and at least four major retailed in the five largest cities in each country.
Here’s a list of the best places in Latin America to buy an iPhone (meaning, the cheapest places):
- Mexico: $619.98
2. Colombia: $655.11
3. Panama: $681.11
4. Chile: $761.66
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And here are the Latin American countries with the highest prices for an iPhone:
- Venezuela: $97,813.82
2. Dominican Republic: $965.62
3. Argentina: $900.43
4. Guatemala: $889.56
5. Costa Rica: $852.94
In comparison with further north in the Americas, the average iPhone cost in Canada is $555.25 and in the USA, it’s $625.88. And in case you’re looking for the absolute lowest prices, you’ll have to travel quite a bit further: Angola, Japan and China have the lowest prices, coming in at $402 to $471.