I see many posts every day about the new iPhone 17. I have seen influencers showing off Pro Max models, talking about features and colors, making it look like owning the phone gives status. I see people already thinking how to pay for it before it arrives.
The base iPhone 17 in India starts at ₹82,900. The iPhone 17 Pro begins at ₹1,34,900 and the Pro Max at ₹1,49,900. The new iPhone Air is priced at ₹1,19,900.
I know from talking to friends that many are excited about the “premium” feel of the iPhone 17. It is not ultra luxury like Pro Max for everyone.
Many want the iPhone 17 or iPhone Air.
These models give a promise of aura and panache without going fully elite. But even for those models one has to plan how to fund this.
Here is the hard part.
A large number of people in India earn much less per month than the cost of this phone. I have seen data that in many cases the price of an iPhone in India is more than a full month salary for a middle income person. By contrast in the USA the same model costs less when measured as fraction of monthly income.
When the monthly income of someone is ₹40,000 or ₹50,000, buying a phone that costs ₹82,900 or more means stretching the budget. Many think EMI is the answer. Many believe they will pay it off without problem.
I have seen that belief lead to long burdens.
When an iPhone Is an Asset, and When It Is Just Debt
I have seen people argue that buying an iPhone on EMI is an investment. And in some cases, that is true.
If you are a professional who earns through the phone itself, then the equation is different. A wedding photographer, a YouTuber, an Instagram creator, or even a journalist who uses the phone’s camera and editing features daily is putting the device to work.
In that case, the money spent can bring income back. For them, the iPhone is not only a gadget but also a tool of production. A two-lakh camera that pays for itself in assignments is not a liability, it is an asset.
But I have also seen the other side.
Most people who buy the latest iPhone are not earning anything from it. For them, the phone is a consumption item. They use it for calls, social media, streaming, and pictures that never leave the family album. In these cases, a ₹1.5 lakh iPhone is not an investment. It is luxury financed through debt. The resale value will collapse within two years, yet the EMIs will keep coming every month.
The mistake many make is to treat this debt as harmless. They say, “It is only ₹6,000 per month.” What they forget is that ₹6,000 a month is not buying something that appreciates or pays income. It is buying something that loses half its value in one year. The EMI does not build wealth, it only transfers wealth from the buyer to the seller and the lender.
I have seen young professionals tie up 20 to 25 percent of their monthly income in phone EMIs. They justify it by saying that an iPhone will “last longer” or that it gives them confidence in meetings. Maybe that confidence is real. But it is still an expensive confidence trick if it eats into savings, insurance, or investments. The hard truth is this: unless the phone is directly making you money, an EMI on it is not an investment. It is a drain.
The EMI That Outlives the Phone
I have seen many cases where the EMI on an iPhone continues long after the phone itself has lost its shine. A top-end iPhone 17 Pro Max at ₹1.5 lakh, bought on a 24-month EMI, means paying roughly ₹6,500 to ₹7,000 every month for two years. At first this feels manageable. But the problem is that the phone’s value does not last that long.
Data from resale markets shows that iPhones lose close to half their value in the first year, and nearly two-thirds in two years.
That means a phone that cost ₹1.5 lakh today may be worth only ₹50,000 two years later. If you try to sell it halfway through, the resale will not even cover your pending EMIs. I have seen people selling their old phone to fund the next model, yet still paying the remaining EMIs on the one they no longer own. That is the definition of a sunk cost: paying for something that is gone.
The burden feels heavier when you put it against salaries.
In the United States, an average monthly wage is close to ₹3.5 lakh. The starting iPhone 17 at around ₹82,900 in India costs about 25 percent of an average Indian monthly salary of ₹33,000. In the United States the same phone is only about 7 percent of the average salary. In India, buying even the base iPhone 17 often means committing more than one full month of earnings. In countries like China or the United Kingdom, the ratio is much lower.
This gap shows why EMIs feel necessary in India. For many, there is no way to pay for such a phone upfront. But that is also what makes it so dangerous. A gadget that loses value every month should never be treated like a house or a car loan. At least a home or car retains some form of utility and asset value after years of EMIs. An iPhone does not. It is one of the fastest depreciating liabilities you can tie yourself to.
I have seen families cut down on other expenses just to keep up with these EMIs. Eating out less, delaying insurance premiums, skipping SIPs. All to keep paying for a device that is already outdated in the market cycle. This is not investment. This is consumption debt, and it leaves scars.
The Vibe Is Costly and Not Worth It
I have seen enough people get trapped in this cycle to know how it ends.
At first there is excitement. A shiny new box, an unboxing video, the glow of the Apple logo. But then the months pass, the phone scratches, the battery weakens, and new models launch. What does not fade is the EMI. It keeps taking money from your account month after month, long after the thrill has gone.
If you are a professional who truly earns from the device, then fine. It can pay for itself. But if not, I urge you to pause before committing. Do not let a phone become the reason you delay investments, or the reason you stretch your budget every month. There are better uses for that money: a mutual fund SIP, an insurance plan, or even saving for a goal that matters. Those build your future. An EMI on a depreciating gadget only empties it.
I have seen people regret this choice deeply. They say, “I should have waited,” or “I should have bought a cheaper model.” That regret comes when they realise the cost was not the phone but the years of financial breathing room they gave up.
So here is my plea.
Buy the iPhone if you love it and if you can afford it upfront without hurting your savings. But please stay away from stretching your salary across 24 EMIs for it. The aura will fade. The debt will not. I have seen that damage up close, and it is far worse than missing out on the latest model for one year.
Disclaimer
Note: This article relies on data from fund reports, index history, and public disclosures. We have used our own assumptions for analysis and illustrations.
The purpose of this article is to share insights, data points, and thought-provoking perspectives on investing. It is not investment advice. If you wish to act on any investment idea, you are strongly advised to consult a qualified advisor. This article is strictly for educational purposes. The views expressed are personal and do not reflect those of my current or past employers.
Parth Parikh has over a decade of experience in finance and research. He currently heads growth and content strategy at Finsire, where he works on investor education initiatives and products like Loan Against Mutual Funds (LAMF) and financial data solutions for banks and fintechs.