Deutsche Bank report reveals where Apple fans pay the most
A new 2025 report from Deutsche Bank highlights major global price differences for the iPhone 16 Pro—and where you buy could cost (or save) you hundreds of dollars.
At the top of the affordability list is South Korea, where the latest iPhone goes for around $1,063 (~₦1.7 million). The U.S. follows closely behind, and Australia rounds out the top three with an average price of $1,082 (~₦1.73 million).
Europe? Not so wallet-friendly
If you’re in Northern Europe, brace yourself. Countries like Denmark, Norway, Finland, Poland, and Portugal are among the most expensive places to buy an iPhone—often retailing for over $1,366 (~₦2.19 million).
Meanwhile, Asia still offers some of the best deals, with countries like Malaysia, Taiwan, China, Japan, and Hong Kong selling the device for less than $1,160 (~₦1.86 million).
Why the huge price difference?
The same iPhone model can cost wildly different amounts based on:
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Taxes and import duties
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Currency strength
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Local inflation
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Apple’s pricing strategy per region
These factors turn the iPhone into either a smart buy—or a luxury splurge—depending on where you’re shopping.
iPhone hotspots: Where it costs the most in 2025
Here are five countries where the iPhone 16 Pro is seriously expensive right now:
Turkey
Takes the crown for highest prices—thanks to heavy taxes like a 50% Special Consumption Tax, a 20% VAT, and a weak currency. An iPhone here can cost nearly twice what you’d pay in the U.S.
Brazil
No surprise here—import tariffs and layered taxes push prices 50–70% higher than U.S. rates. A new iPhone can exceed $2,000
Egypt
Ongoing import restrictions and taxes have made iPhones expensive, with prices climbing above $1,300, well over the global average.
Sweden
Despite being one of Europe’s wealthiest nations, Sweden slaps on a high VAT, pushing iPhone prices up to $1,448 for top models.
India
Even with some local assembly, high tariffs and a Goods and Services Tax keep iPhones pricey. The iPhone 16 Pro goes for around $1,400, making it a clear status symbol.
What it means for Nigerian buyers
For Nigerians considering travel or grey market purchases, this data shows that shopping from the U.S. or parts of Asia could save you hundreds of thousands of naira—even after shipping and customs.
Where you buy matters, and with the iPhone, geography = money.
