At 2:50pm with the usual post lunch carb-induced sedation settling in, it was just another hot and sticky Friday afternoon apart from a little alert popping up on the corners of all our screens. “GET READY TO ORDER IPHONE X!” flashes intermittently in the background as we scramble to open our designated pre-order channels at industrial speed.

3pm, 3 iPhone Xs. To pre-order or suffer a fate of queueing like plebeians outside the Apple store on the day of launch.

At SGD $1648, the newest iPhone model enters the mainstream smartphone market as one of the steepest priced tech gadget. Even both the 128GB and 256GB models of Apple’s latest Macbook Airs are priced slightly less than the cheapest iPhone X. A 3D printer. A hair growing helmet. A coffee table aquarium. A few other items you can purchase that collectively costs less than an iPhone X.

So who are these consumers that are willing to part with Bangladesh’s GDP per capita for a bezel-less piece of glass and metal?

In a nationally representative survey conducted by Milieu of 240 respondents, about half (50%) the consumers surveyed indicated a purchase intent of an iPhone X, with the majority (60%) of them being existing Apple users. While overall purchase intent is high, only 15% are very likely to purchase, while 35% have indicated they are likely to purchase, which might not translate to actual purchases.

Brand loyalty

The appeal of the iPhone X proves strong among non Apple users as well. Among the respondents who intend to purchase the iPhone X, a large minority (35%) of them are existing Android users, demonstrating a significant demand of the iPhone X among non-Apple users. However, only 8% of Android users said they were very likely to purchase the iPhone X, which might mean an even lower actual purchase intent for Android users.

Of the Android users that were likely to purchase the iPhone X, 70% were Samsung users. Although this could be due to Samsung’s position as the leading Android mobile brand, it also signals a sense of curiosity for the iPhone X for Samsung users.

Price barrier

For a brand that has made its fortune by catering to the mass market, the cost of the iPhone X caters to everyone but the masses. Of those who will not purchase the iPhone X, 76% cited “too expensive” as at least one of the reasons why they would not be buying it.

Unsurprisingly, purchase intent for the iPhone X is proportional to respondent’s income levels. As respondents’ income increase, their purchase intent of the iPhone X also increases. At the extreme end of the spectrum, respondents who reported a monthly income of more than SGD $12,000 a month are the most willing to purchase an iPhone X, with 43% reflecting purchase intent compared to those with monthly income below SGD$6,000 at 24% .

Features

With game-changing features like wireless charging and facial recognition, it is no surprise that respondents are excited to experiment with these new features. Overall, respondents are most excited by wireless charging at 30%, followed by the new phone design at 28% and facial recognition at 26%.

For Android users, facial recognition and new bezel-less design are generating the most excitement with respondents indicating the most enthusiasm for these features at 34% each.

The enthusiasm for facial recognition among Android users might be due to recent news about facial recognition features in Android phones, which seems to be a party trick feature more than an actual user function.

Mobile service providers

Interestingly, 59% of people who are likely to purchase the iPhone X are less than 12 months into their phone plan, spelling a huge opportunity for service providers to increase flexibility for mobile phone contracts to trigger early renewals.

But for consumers itching to get their hands on the latest Apple product, we have a 256GB Silver iPhone X up for grabs that could be yours! In line with our product launch, we’re holding an iPhone X giveaway for all our panelists - simply download our free app now to win one chance of winning an iPhone X. Chances of winning increases with every survey you take - sign up here now!