While politicians have described Israelis as broke, in debt, and weighed down by impossible living costs, a new study by the International Data Corporation, shows they're finding the money to pay for electronic gadgets.
The study, published in business daily Globes on Thursday highlights that while Israelis may be worried about a two shekel increase in the price of cottage cheese, they have no problem paying thousands of shekels on the latest smartphones.
Close to 8 million people live in Israel, and the IDC study shows that in 2014, residents bought nearly 3 million new smartphones.
The 2.85 million devices purchased in 2014 was 19% higher than the 2.4 million bought in 2013.
In addition to the smartphones, nearly half a million “regular” cellphones were sold in 2014.
The most popular models in 2014 were Apple's latest iPhones, as well as the Samsung Galaxy S5, followed by the Galaxy S4, iPhone 5S, and the top of the line LG device. The price on all these devices is in excess of NIS 3,000.
Until several years ago, nearly all cellphones were sold by cellphone service providers, such as Orange and Cellcom.
With the entry of electronics stores, and even supermarkets, into the cellphone business, more Israelis are buying from these sources, thanks to their lower prices. However, about 60% of the phones are still sold by the service providers.