Apple, famously, has the same pricing philosophy as Luis Vuitton.. It sells premium products at premium prices, and it never discounts. that philosophy has made it an aspirational brand worldwide.
Meh, an iPad or Macbook is, but I don't think an iPhone is that luxury product anymore. They are plenty of idiots out there on welfare, social security, etc who have an iPhone. Whether they can afford it is a whole another argument.
Plus iPhone has gone prepaid. That itself makes it less of a luxury product.