Economist: iPhone 5 Sales Could Add $3.2 Billion to the U.S. Economy


Rumoured iPhone 5 backplate appearance

Marketwatch reports the upcoming iPhone 5 could be worth up to $3.2 billion dollars to the U.S. economy in the Q4 period, according to J.P. Morgan economist Michael Feroli.

He predicts 8 million iPhones sold in the fourth quarter, and with an assumed price of $600 per device plus $200 worth of imported goods per phone, iPhone 5 sales could boost GDP by $3.2 billion in Q4 (or $12.8 billion annually). J.P Morgan estimates the entire U.S. economy will grow at 2 percent, and this iPhone 5 boost would be the rough equivalent of a 0.33 percentage point boost to GDP:


Numerous users opted out of upgrading to the iPhone 4S, as the incremental upgrade was not substantial, compared to the identical-looking iPhone 4. With the iPhone 5 expected to have a taller and thinner widescreen display being announced this Wednesday, this upcoming launch is set to be the biggest iPhone launch yet.

Particularly in Canada, users that have waited out their three-year iPhone 3GS contract are ripe for upgrades to the iPhone 5.