With the launch of iPhone 17, India has once again seen tremendous craze. Millions of people are competing to buy a new iPhone on offline stores and e-commerce sites. But do you know that the bank’s earnings of ₹ 5000 crore are hidden behind this craze? Actually, more than 1 crore iPhones are sold every year in India, out of which about 70 lakh phones are purchased at EMI. If the base model is considered ₹ 82,000 and adds an interest of ₹ 7,400 at an EMI of 12 months, then banks benefit a total of ₹ 5000 crore. Apart from this, processing fees, late fees and fine increase this income. An iPhone, which people buys as a status symbol, can actually have up to ₹ 90,000. Think, if so much interest is made from the iPhone with only 10% market share, then how much banks will earn from the entire smartphone market?