Tuesday, September 11, 2012

iPhone 5 predicted to boost US economy

The iPhone 5, to be unveiled this Sept. 12, is expected to give the US economy a noticeable dent.

According to JP Morgan's chief economist, Michael Freoli, sales of the iPhone 5 may add 0.25% to 0.5% to the country's GDP. This is relatively big as that percentage translate to somewhere near $3.2 billion. This forecast "seems fairly large," but the iPhone 4S exceeded forecasts last October, Freoli adds.

Reuters also says that it also is expected that Apple will sell 8 million units of the iPhone 5 at $600 each. The expected profit per phone is $400, the agency adds.

Apple sent out invitations for a press event with an image sneaking in a "5" shadow (shown above) to take place in San Francisco’s Yerba Buena Center for the Arts.

[via Mashable]

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