Apple products are expensive. Some are niche, low volume products whereas most of them are made for the masses. The iPhone is the most popular product the company makes – it sells like hotcakes during the new releases.
Other tech companies like Samsung also make expensive products but they also offer budget friendly options as well. As a result, the South Korean brand Samsung’s products are not totally perceived as “expensive”.

Yearly software updates guaranteed
The iPhone is a really good smartphone – its a quality product which will last for years. Apple supports its iPhones for 4-6 years on an average through software updates. No other smartphone manufacturer supports a device for more than 2 years and some even less.

If an iPhone user knows to maintain their device, there will be no reason to spend any money on repairs or maintenance. The battery could, however, degrade over the years and users may need to replace it. There could be some isolated incidents of hardware failures but that’s a very small percentage.
Most iPhone users use their phone for more than 4 years as they do not face any major issues. If the money spent on an iPhone is looked at as an investment, the iPhone starts to seem similarly priced to other budget smartphones which turn slow in just a year or so of use. It does not happen with all devices but majority of the budget smartphones after some software updates turn horrendously slow. Also, budget smartphone makers have turned to displaying ads on their phones which deteriorates the user experience.
The iPhone XR which launched in 2018 is still a popular device and people clamour for it during sales. The 2+ years old device shows no signs of ageing, it is destined to receive major software updates for another 3-4 years guaranteed.