The iPhone 5 is the next generation of iPhone products, with its creator, Apple, being vividly optimistic in regard to sales, as well as economic significance. Responding to consumer demands, this new generation will be roughly one ounce (20%) lighter with a half inch larger screen.
Other basic upgrades include increased battery life and improved processor. The most advertised feature is the eight pixel HD camera that can record videos, simultaneously taking pictures.
All this and more was designed to outdo the predecessor, iPhone 4S, which did well in sales yet received neutral to negative reception from its purchasers, due to the lack of difference from the iPhone 4. Apple is so excited about the release on September 21, 2012, it is ready to experience market success, along with economic stimulus.
Last October, the first weekend of iPhone 4S’ sales, more than four million of the product had been bought in retail establishments. Analysts such as Munster predict the iPhone 5 to break that record, since the current number of pre-orders had overcame the previous by an unexpected margin even to the surprise of Apple.
On USA Today, an independent technology analyst, Richard Doherty of the Envisioneering Group stated, “Apple expected the orders to be a ten-hour cycle, and they were shocked when it was just one hour.” Apple’s site clarifies that online orders will not be shipped until October 5.
The iPhone 5 will be available at Apple, Walmart, Best Buy, Radio Shack, and wireless providers AT&T, Verizon, and Sprint. So how would commerce of this product stimulate the economy?
The record breaking sales of the iPhone 5 would help stabilize the national GDP. Michael Feroli, a JP Morgan economist, predicted net sales to be more than twelve billion dollars within the first year. Cary Leahey, chief US economist at Decision Economics, agreed with the prediction, seeing a “noticeable but not earth-shattering” boost in the economy.
This financial expectation of Apple product success is what many economist deem a reminder of the United States’ consumer economy, which maintains a consistent pulse, as long as people purchase non-essential commodities in mass within short periods of time.