Australia markets open in 5 hours 45 minutes
  • ALL ORDS

    6,888.20
    +32.70 (+0.48%)
     
  • AUD/USD

    0.7360
    +0.0001 (+0.02%)
     
  • ASX 200

    6,683.30
    +39.20 (+0.59%)
     
  • OIL

    45.55
    +0.64 (+1.43%)
     
  • GOLD

    1,808.60
    +4.00 (+0.22%)
     
  • BTC-AUD

    25,804.48
    -349.75 (-1.34%)
     
  • CMC Crypto 200

    376.84
    +6.33 (+1.71%)
     
✉️ SIGN UP NOW:

Make 2021 your best financial year yet!

The $2,349 item that broke Aussies would buy

Jessica Yun
·3-min read
SHANGHAI, CHINA - OCTOBER 26, 2020 - Apple mobile phone store 5g version of the iPhone 12 poster. Shanghai, China, October 26, 2020.- PHOTOGRAPH BY Costfoto / Barcroft Studios / Future Publishing (Photo credit should read Costfoto/Barcroft Media via Getty Images)
An Apple store in Shanghai, China, October 26, 2020. (Source: Costfoto/Barcroft Media via Getty Images)

The Covid-19 pandemic may have bruised the economy and impacted the personal savings of millions of Australians – but that hasn’t dampened enthusiasm for the latest iPhone.

More than a third (35 per cent) of Australian iPhone users believe $1,000 is too much to pay for a phone – yet are still interested in buying the iPhone 12, according to new research from WhistleOut.

And 3 in 10 people who believe $1,000 is too much for a phone actually plan to get the iPhone 12 before the end of the year anyway.

WhistleOut’s survey of 600 people sought to find out whether financial concerns would hold people back from purchasing the new device.

“It appears that most people in the market for an iPhone 12 will be willing to pay more for it than the average Australian, even with the financial uncertainty of Covid-19 as a backdrop,” wrote WhistleOut managing editor Alex Choros in a guide about the iPhone 12.

“According to our survey 75 per cent of people are being more conservative with their money due to coronavirus and 69 per cent have been actively saving since the pandemic took hold, but that doesn’t seem to have dampened many people’s fires for getting an iPhone 12.”

The iPhone 12 was released on 12 October in four different sizes: iPhone 12 Mini, iPhone 12, iPhone 12 Pro, and the iPhone 12 Pro Max.

It is the first iPhone to offer 5G.

SHANGHAI, CHINA - OCTOBER 26, 2020 - Customers lined up in the apple store to buy the 5g version of the iPhone 12. Shanghai, China, October 26, 2020.- PHOTOGRAPH BY Costfoto / Barcroft Studios / Future Publishing (Photo credit should read Costfoto/Barcroft Media via Getty Images)
Customers lined up in the Apple store to buy the 5G version of the iPhone 12 in Shanghai, China, October 26, 2020. (Photo credit: Costfoto/Barcroft Media via Getty Images)

Each model will differ in price according to how much memory you want your device to have, with the lowest being 64GB and the highest being 512GB.

However, the iPhone 12 Mini and the iPhone 12 don’t come with any more than 256GB memory, while the iPhone 12 Pro and the iPhone 12 Pro Max start at 128GB.

According to Reviews.org, the cheapest iPhone in the 12 range – the iPhone 12 Mini with 64GB memory – starts at $1,179 at Kogan, while the iPhone 12 Pro Max with 512GB memory will set you back $2,349.

iPhone 12 prices. (Source: Review.org/Yahoo Finance screenshot)
iPhone 12 prices. (Source: Review.org/Yahoo Finance screenshot)

As of midnight Saturday AEDT, all the iPhone models are now available for pre-order in Australia.

While Australians have become more conscious of saving during the pandemic, a survey by money.com.au found nearly two thirds (61 per cent) of Aussies were not saving and didn’t have anything to fall back on if they fell into financial hardship.

Want to get better with money and investing in 2021? Sign up here to our free newsletter and get the latest tips and news straight to your inbox.

Follow Yahoo Finance Australia on Facebook, Twitter, Instagram and LinkedIn.