It's not new news that Apple products are over priced. Apple is basically selling you their name. They've built up a brand that far surpasses any other in this modern age. Although they probably have the best customer support services in the world, the major thing that they bring to the table is the fact that simply using an iPhone puts you a notch above others in most countries, and using an iPhone in places like the US and some parts of Europe grants you access to the "IOS ecosystem".

I'm Nigerian and in my country there are people who will go as far as stealing or keeping with people so that they can get an iPhone. Using iPhones has a certain 'swag' which alot of young people today will do anything for and they're willing to buy it now matter the price.