The iPhone 5, the next iteration of its smartphone, which is due to be unveiled this evening, could add up to 0.5pc to US GDP, a leading analyst has claimed.
Michael Feroli, chief US economist at JP Morgan, predicted that Apple will sell at least 8m of the devices by the end of the year at around $600 each.
In a note entitled “Can one little phone impact GDP?”, he argued that around $200 of that figure will account for imported parts, but that the remaining $400 will count towards the US Government’s GDP figure, creating a $3.2bn (£2bn) boost for the economy.
The injection would translate to at least a 0.33pc increase in America’s annualised growth in the fourth quarter, Mr Feroli said. However, the upside could well be even higher depending on how well the device is received.
Apple is expected to unveil the iPhone 5 alongside updated versions of its music-players, the iPod Shuffle, iPod Nano and the iPod Touch.
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