The cheapest iPhone is also as expensive as some mid-range Android devices and completely inaccessible to a large chunk of the world's population. When a device that most will spend $449 on is "cheap" you have to admire Apple's price anchoring[0], they release a $1249 flagship and suddenly what the largest iPhone 5S flagshp cost ($442.09 inflation adjusted to 2020) at launch is considered "cheap." It is undeniably a…
Consider the case of someone who is upgrading from the iPhone SE they bought four years ago. $100/year seems like a pretty good deal for their next phone.