If you have this popular phone, you're probably rich

New research shows that owning an iPhone is the most common sign of wealth

That's according to a new paper from University of Chicago economists Marianne Bertrand and Emir Kamenica, reports Business Insider.

In other words, in the USA, owning an iPhone will place you in the top quartile of income for various household groups.

The iPhone is, of course, the most expensive smartphone you can buy, especially the newest generation.

With (worrying) reports out of the USA that people who shop online using an Apple device can be charged a premium as much as 25 per cent due to the perception Apple fans are less price sensitive comes a new study that suggests that iPhone users are, indeed, richer than their Android-using counterparts. According to the research, the iPhone is the most common status symbol of wealth...

The study included the top predictors for other years.

Darksiders III Launches On November 27, 2018
And it's the whip-it-good beatdowns that we're really here for, so if developer Gunfire Games can pull that off, a little bit of narrative chop now and then will be easy to overlook.

HMD is launching the Nokia X5 this week
It will have a 3, 000mAh battery, an octa-core mediatek processor and up to 6GB of RAM with up to 64 GB of storage. There's also a microSD card slot, which enables users to further expand the phone's storage capacity up to 256GB.

Thailand cave rescue: Why the boys are being kept in isolation
The rescue workers need 20 hours before the third operation , Osatanakorn said Monday afternoon, according to a Guardian reporter. At the hospital in Chiang Rai, green canvas sheets had been put up to block the entrance from view.

Owning an iPad, an Android phone, or using Verizon were also indicators of "high-income". In 2004, the second batch of data showed Land O' Lakes Regular butter was the clearest indication you were earning good money. In 1992, some of the top brands that were associated with wealth in the United States, in no particular order, were Grey Poupon Dijon mustard, Kodak cameras, Kikkoman soy sauce, and Philadelphia Cream Cheese.

The paper also reveals iPhone owners are likely to give the impression of being educated. More than 6,000 people were surveyed to acquire the data.

The study took a look at 2016 data, but the result of owning iPhones and iPads being the best indicator that a person is rich may continue into the succeeding years.

The data is also a reminder of how much things have changed technologically over the years. While in 1992, you were seemed to have made it if you owned a dishwasher, answering machine and even enjoyed eating Dijon mustard! In 2004 (some three years before the launch of the smartphone), status symbols included owning your own vehicle or home computer.

Related:

  • Prince Louis christening: Queen and Duke of Edinburgh to miss event

    Prince Louis christening: Queen and Duke of Edinburgh to miss event

    William was in a blue suit, just like Harry who was walking behind the family of five with Meghan Markle . He has been banned from driving three times, including twice for drink-driving and once for speeding.
    What every royal guest wore to Prince Louis's christening

    What every royal guest wore to Prince Louis's christening

    The picture featured on the card was taken by Alexi Lubomirski, the photographer who also shot their iconic engagement photos. The couple will see the Book of Kells at Trinity College Dublin and will visit the city's starvation memorial.
    Love Island: What's next for Zara and Adam?

    Love Island: What's next for Zara and Adam?

    And while Adam doesn't pull the plug on his romance with Darylle, he admits his head is "a bit all over the place". There is a strict code of conduct you have to follow, so I was very conscious about everything I said and did.
  • Singer Justin Bieber engaged to model Hailey Baldwin

    Singer Justin Bieber engaged to model Hailey Baldwin

    It appeared the Canadian superstar popped the question during a Bahamas trip after the couple recently got back together. Excited for the next chapter!" We went through a long period of time when we weren't friends.
    Roger, Serena, Rafa bring best to Wimbledon’s Centre Court

    Roger, Serena, Rafa bring best to Wimbledon’s Centre Court

    It shouldn't be a shock, and, "Oh, my God, I can't believe it, I lost a set". "It is part of what a tennis match is about". The Anderson serve proved too strong in the break as the SA player claimed it 7-4.
    How have Three Lions reached the semi finals?

    How have Three Lions reached the semi finals?

    Belgium managed just 0.54 xG against Brazil, with an own goal and a clinical finish from Kevin De Bruyne (5%) sending them through.
  • Who is Martha Kavanaugh, Brett Kavanaugh's mother?

    Who is Martha Kavanaugh, Brett Kavanaugh's mother?

    But a controversial Supreme Court pick could test the boundaries of their willingness to buck the rest of the Democratic Party. On Monday, Trump phoned Justice Anthony Kennedy to inform him that his former law clerk would be nominated to fill his seat.
    UK's May loses two key cabinet ministers over Brexit row

    UK's May loses two key cabinet ministers over Brexit row

    Leaving the gathering, leading Brexiteer Jacob Rees-Mogg said he did not think there would be a confidence vote over Mrs May. As the minister responsible for the Brexit negotiations , Mr Davis was a key voice in the debate in the UK.
    Liu Xia, wife of late China dissident Liu Xiaobo, left for Berlin

    Liu Xia, wife of late China dissident Liu Xiaobo, left for Berlin

    A Reuters news report quoting the BBC said that Liu Xia took a Finnair flight that departed from Beijing at around 03:00 GMT. While there was no immediate comment from its embassy, Germany had been urging China to allow Mrs Liu to leave.
  • New Toyota Supra Teased In Production Form, Will Run Up Goodwood Hill

    New Toyota Supra Teased In Production Form, Will Run Up Goodwood Hill

    Just a few days ago, Toyota hinted that it'd showcase a prototype for the new Supra at the Goodwood Festival of Speed .
    Apple releases iOS 11.4.1 with USB Restricted Mode

    Apple releases iOS 11.4.1 with USB Restricted Mode

    There isn't anything in the way of new features, instead delivering on some bug fixes and stability improvements. Camera issues and battery drain problems stemming from iOS 11.4 have been patched in the update.

    Prince Louis of Cambridge in pictures

    Royal christenings are traditionally a time for the family to get together, kids included, and this was no different. Meghan Markle , the Duchess of Sussex , wore an army green Ralph Lauren dress and hat by Stephen Jones .

Comments

Latest news

YouTube aims to crack down on fake news, support journalism
The grants will let new orgs build out video capabilities, train staff on video best practices, and enhance production facilities. In these urgent cases, traditional video won't do, since it takes time for news outlets to produce and verify high-quality clips.

Frozen vegetables recalled from Aussie supermarkets over listeria concerns
Woolworths - Essentials snap frozen mixed veg 1kg: Carrots, peas, corn, green beans & potatoes National distribution. Countdown has voluntarily withdrawn one if its frozen vegetable Bell Farms' products after a recall in Australia.

Sacha Baron Cohen teases project with Dick Cheney signing 'waterboard kit'
For starters, Vulture's editors spotted some interesting posters that appeared in Brooklyn, New York, over the weekend. Cohen's latest teaser for his upcoming series features one of the most controversial figures from the George W.

Eight boys rescued from flooded Thai caves, now up to ‘rain god’
It was the second trip down the dark and narrow passageways for some of the rescue team members, according to The Guardian . The four boys left in the cave range in age from 12 to 14, along with their 25-year-old soccer coach .

Nathan Drake doesn’t actually take bullet damage in the Uncharted series
Of course, this does presumably mean that Drake's enemies are a rubbish shot, although as we pointed out above, it's a video game. The article, which outlines hands on impressions before the game's release, mentions the same luck mechanic.

Pixel 2 XL, Home, & Chromecast, including $150 off Home Max pair
UPDATE: Want just a single Google Home Mini at that Walmart price? Google notes that deals are available "while supplies last". But before you buy the discounted Pixel 2 XL, remember that the Pixel 3 and Pixel 3 XL are in the pipeline.

Nissan GT-R50 by Italdesign to debut at Goodwood By Chris Thompson
Based on a standard GT-R, the GT-R50 rocks entirely new bodywork with a lower roofline, fatter fenders and "floating" taillights. Brembo brakes are also equipped, and a "large adjustable rear wing" should provide extra downforce to improve handling.

Monster Hunter World PC Release Date Announced
The Fair Wind charm carries a skill that increases your attack power, and one that adds a chance of reducing the damage you take. All of that helped Monster Hunter: World find massive success worldwide, and Capcom has since shipped 8 million copies.

Twitter reacts to Jay Cutler in "Very Cavallari" season premiere
Watching Jay Cutler do his thing on the gridiron every Sunday for the past 12 years was tough, especially for Bears fans. He stole the spotlight in the first episode of "Very Cavallari ", a show focused on his wife, Kristin Cavallari.

Duke and Duchess of Cambridge announce six godparents for Prince Louis
She first made her appearance in the corridor on the way to the chapel while holding her dad Prince William's hand. As after George and Charlotte´s baptisms, guests will be served slices of the duke and duchess´s wedding cake.

England can win World Cup, says Liverpool legend Rush
These guys are a couple of games away from being immortalised, I bet they can't wait for the next game to start. I'm really happy with the coach and the players. "It wasn't an easy game".

UK Government in crisis as Foreign Secretary Boris Johnson quits
Both Mr Johnson and Mr Davis had signed up on Friday to Mrs May's blueprint for Brexit at an all-day summit at Chequers on Friday. In her statement Prime Minister vowed to deliver "a Brexit that is in our national interest, the right Brexit deal for Britain".

Kavi Kumar Azad of ‘Taarak Mehta Ka Ooltah Chashma’ is no more
Tarak Mehta Ka Ooltah Chashma is the only the tv show today which still manages to tickle our amusing bones. Today he called and informed that he won't be able to make it as he will ill ... but he left us all.

Croatia's success is much more important than me, says Luka Modric
The most important thing is that the national team succeeds and achieves something big. I'm focusing on the national team. "We want to bring a medal home".

Magnificent England will have too much for jaded Croatians
George off and running yesterday morning and then another by Dele Alli , the England game was also up from its 2014 comparable. The Three Lions maybe have issues creating chances from open play, but they are also shutting oppositions' attacks.

Other news