> Apple is irrelevant in 3rd world countries. It is a luxury brand for millionaires. Doesn't have mass appeal.

Apple has 9% market share in Brazil. This is not irrelevant. It’s not a luxury thing for millionaires, but rather a status symbol for the middle class.

There’s this whole market of iPhone leasing plans where you get a new phone whenever Apple releases a new one, banks offering 21x installment payment plans to purchase iPhones, and a vibrant secondhand and refurbished market.

This 9% segment of the population can’t be ignored, specially considering the income inequality in the Brazilian society. They might not have a high credit card limit or due to lack of financial literacy, they want to avoid using credit cards, so they might prefer to use debit and PIX for daily transactions.