Can Buying An iPhone 5 Single-Handedly Help The US Economy?

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Today is the day when Apple finally introduces their new iPhone 5 to the world and according to the LA Times there has been plenty of speculation about the handset already. Analysts from J.P. Morgan however have been asking if the iPhone 5 alone will be able to help the economy in the US?

Can iPhone 5 successfully boost the US economy

Some believe that the iPhone 5 could add a half percentage point to the gross domestic product annual growth during Q4 2012. This is based on the fact that around 8 million iPhones may be bought during this period. The launch of the iPhone 5 is thought to be one of the most significant upgrades to the iPhone since its first release.

The unlocked handset should be around $600 and if sales go according to plan it could boost the GDP by around $3.2 billion which equates to $12.8 billion over the year. This would increase Q4 growth by a third of a percentage. Consumer spending has accounted for around 70% of GDP and this has continued to rise and it is thought that it may jump up more thanks to big ticket items such as the iPhone 5.

If you live in the US, would you consider buying an iPhone 5 instead of a Samsung Galaxy S3 if it helped your country? Personally I would take all analyst reports with a grain of salt.

Xbox 360, Playstation 3, Nintendo Wii, PC, iPhone and Android games keep Berke busy at work all day. Honestly though we’re not sure why we’re paying him as it should be the other way around.