Chinese Are Rich - Will To Shell Out Nearly $500 For Next iPhone

Source: Business Insider Via Dave the Mobile Sage.

I'll be honest with you.  I'll willing to shell out the full retail price for an iPhone only because I refuse to give carriers the satisfaction of overcharging me and then I take the phone and use the cheapest plan I can find.  And luckily, I save all year or two for one.

Now, living in Southern California, I see a lot of rich folks.  But the new Chinese immigrants are especially affluent.  So, when I read how they're willing to shell out nearly $500 for a new iPhone Color, I was not at all surprised.

In fact, there are many who speculated that a new color, champagne, for the iPhone 5S or iPhone 5 could be aimed squarely at the rich in Shanghai and other major cities that affluent lives.

While the new iPhone Color could be a boom for Apple, I still don't think it'll be enough to allow Apple to gain significant sales there only because the gap between those who can afford to pay $500 for a phone is so wide and much of China are still poor.