The growing popularity of premium smartphones in India has exposed a troubling side of modern consumer culture: the ease with which expensive gadgets can be purchased on credit.
A tragic incident in Maharashtra has brought the issue into sharp focus after a 19-year-old man and his parents died following a dispute over the repayment of an iPhone purchased on monthly instalments. The incident has raised difficult questions about consumer debt, social pressure and the growing aspiration for premium technology.
According to NDTV’s report, Kunal Chandgude had purchased an iPhone on EMI but struggled to make the instalment payments. An argument reportedly followed when he asked his parents for money to pay the latest instalment. He then left home and went to the edge of a hill, where a three-hour standoff ended in tragedy. His father, Murlidhar, 48, reportedly fell while attempting to reach his son, while his mother, Sangeeta, jumped after them after witnessing what had happened.
When Aspirations Become Debt
The incident is an extreme example of a much broader trend. Premium smartphones have increasingly become aspirational products, particularly among younger consumers. An iPhone is no longer viewed simply as a communication device by some buyers; it can also represent status, success and social acceptance.
NDTV cited Counterpoint Research data indicating that around 42 per cent of iPhones sold in India this year are expected to be purchased through EMIs. The report also noted that the average financing tenure for smartphones sold through physical retail has reached about 10 months, while iPhones reportedly have an average financed tenure of around 17.2 months.
This means consumers can obtain an expensive device while focusing primarily on the monthly payment rather than the total cost of ownership.
The Illusion of Affordability
Consumer financing has made premium smartphones significantly easier to purchase. Point-of-sale financing and non-banking financial companies can approve loans quickly, often with minimal paperwork.
For retailers, premium smartphones can offer attractive margins, creating an incentive to promote financing options. For consumers, meanwhile, a manageable-looking monthly instalment can make a product that would otherwise be unaffordable appear within reach.
But the smaller the monthly payment appears, the easier it can be to overlook the larger financial commitment.
A phone costing tens of thousands of rupees may compete with essential household expenses when the buyer’s income is limited. For families already managing rent, education, healthcare, food and other necessities, an additional long-term EMI can quickly become a source of financial stress.
Pressure on Young Consumers
The problem is not only financial. Social pressure can play a major role in technology purchases.
For many young consumers, particularly in smaller cities and towns, premium smartphones can become symbols of social standing. Social media can further amplify the pressure by constantly exposing users to lifestyles and products associated with wealth and success.
The result can be a dangerous equation: wanting to belong, wanting to appear successful and having easy access to credit.
When the purchase is financed, however, the psychological satisfaction of owning the device is immediate while the financial burden continues for months.
A Growing Concern Beyond Big Cities
The financing trend is also moving beyond India’s major metropolitan areas. Counterpoint Research data cited by NDTV suggests that tier-2 markets have become particularly dependent on financing for smartphone purchases.
That expansion matters because household incomes in smaller cities and towns can vary considerably, and families may have less financial room to absorb unexpected expenses.
Easy credit can therefore become a double-edged sword. It can improve access to technology, but when borrowing is used for an aspirational purchase rather than a genuine necessity, it can also expose households to financial strain.
The Real Cost of Consumer Tech
The Maharashtra tragedy cannot, by itself, establish that smartphone EMIs directly cause such outcomes. However, it illustrates the extreme consequences that can emerge when consumer aspirations, financial pressure and family conflict collide.
The larger lesson is about understanding affordability before making a purchase.
An expensive smartphone should not come at the cost of food, healthcare, education, emergency savings or a family’s financial security. A lower monthly instalment does not necessarily mean a product is affordable.
As premium smartphones continue to dominate India’s consumer market, the conversation needs to move beyond how many devices are being sold and toward how those purchases are being financed.
Technology can improve lives, but no device should become more valuable than the financial stability and well-being of the family paying for it.
