Here's why we're paying €200 more than Americans for the new iPhone 7

We're paying 22% more for the iPhone 7 than we did for the iPhone 6

Apple unveiled their flagship iPhone 7 and 7 Plus devices last week in San Francisco. Once we got to grips with the new spec and features, the most important question to many of us was asked; how much will it cost us?

We've come to expect a hefty price tag with a new Apple device and this time around is no different. Buying a 32GB iPhone 7, which is the cheapest version available, will cost an Irish customer €779. 

This figure jars with many in Ireland as the figure mentioned at the official Apple launch was $649. If we convert that amount into Euro, using today's rates, we get the figure of €576. Obviously, that's a difference of €203. Now we must ask the question of why?

First up, it's worth acknowledging that the Irish price, published above, includes sales tax. Prices published for the US and Canada don't include the tax as it varies from state-to-state. The final price in New York, for example, will come to over $700 once the 8.875% tax is added in. 

Secondly, while Apple has not explicitly stated why they've increased the prices, they're not alone in doing so. OnePlus, the Chinese smartphone manufacturer recently increased the cost of their popular OnePlus3 device by 6.5%. 

Most expensive

People living in Hungary will pay up to 44% more for the new iPhone 7 than those in the US, making it the most expensive place in the world to buy an iPhone.  

The majority of European countries have seen the cost of the iPhone go up. The cost to UK customers has increased 11%, while we will pay 22% more. 

The cost of an iPhone has fallen in certain areas, however, including the US, UAE, China and Japan. While it's only a small drop in those areas, the drop in Russia and Mexico has been more significant at around 4.5 - 5%.  

Apple are now under pressure to ensure that this phone will sell, and it's probably safe to say that it will do well. There's a particular group of people who will always buy Apple and who are happy to pay a premium for it. This is irregardless of features or build.  

The iPhone 7 and 7 Plus are available for pre-order now and will begin shipping later this week.