An iPhone is that gadget that injects a form of heightened social status in its users. People literally break the banks just to associate themselves with lots of Apple gadgets.
But are people still willing to break the bank?
The answer is no. People are not willing to go broke just to land an Apple toy anymore. These things just get more expensive and people are wondering why they are choking on Apple when Android is there to save them.
Besides finance, engineering is also a problem; broken screens that are hard to repair, batteries that are hard to change, and so many other issues with the luxury brand.
So what are you waiting for?