>Why would people want to have an iPhone for only a week?

Indian culture is about display of wealth. Wealthy individuals are respected and get access to inner clubs while the people who don't have much don't get invited anywhere.

College students might want to leave a good impression at a party and might get an iPhone so people start taking them seriously.

Similarly, a guy might get an iPhone so his date considers him important.

iPhone is status symbol in India because not everyone can afford it.

I can certainly and easily afford it but I am still using android because I don't feel the need of uncessarry attention