Smartphone Cost in Many Developing Markets = Material % of Per Capita Income... 15% (Vietnam) / 10% (Nigeria) / 10% (India) / 6% (Indonesia), per McKinsey Average retail price of a smart phone, $USD, 2014 Ethiopia $262 47.6 Tanzania $198 21.5 Bangladesh $123 Cost of smartphone as a % 11.4 Vietnam $279 x% of GNI per capita, 2014 14.8 India $158 Developing Developed 10.1 Nigeria $307 10.3 Egypt $195 6.1 Indonesia $212 5.8 Philippines $163 4.7 Thailand $273 4.7 Colombia $291 3.7 South Africa $256 3.8 China $243 3.3 Turkey $522 4.8 Brazil $319 2.7 Russia $232 1.8 Mexico $244 2.5 Germany $486 1.0 Italy $327 0.9 Spain $269 0.9 South Korea $216 0.8 Japan $232 0.6 Source: McKinsey, Euromonitor, (smartphone prices); World Bank, estimates (GNI p.c., Atlas method) Note: Reflects true prices as paid by the consumer at point-of-sale; includes taxes and subsidies. Excludes data plan costs. KPCB INTERNET TRENDS 2016 | PAGE 15