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Which is especially hilarious in low-income countries like mine. The cheapest latest iPhone (I don't remember what the current number is) costs about 3 median monthly incomes. Most of the population cannot afford one, so what do you do? get a loan and pay in monthly installments until the next one comes out, of course.

This isn't a rare occurrence, I'd say ⅓ of my acquaintances do this. The power of marketing at its finest.