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The choke price is the exact point at which demand ceases. Buyers are also not interested in anything with a higher price, but the choke price is the lowest for which there is zero demand. The choke price is used in demand and supply analysis.
So, What is the Price of iPhone 5 in Nigeria? According to a post on GSMArena, the UK prices for the iPhone 5 will start from Â£529 (around â¬660) for the 16GB model. The German and French SIM-free prices start from â¬679. This simply means the price of iPhone 5 without contract will start from $882. If you convert this to Nigerian currency, this means the price of iPhone 5 in Nigeria will be around N140, 000 for the 16GB model. This is just an estimate.