IPhone 5 could break sales records
Apple's long-awaited smartphone is expected to sell 10 million units within weeks of its release.
Apple's (AAPL) highly anticipated smartphone has been met with record demand and a plethora of rumors that suggest a massive shortage this fall. A new report by Bloomberg says otherwise, indicating that Apple could break its own records and sell 10 million units within weeks of the device's release.
This milestone could top sales of the iPhone 4S, which sold more than 30 million units over the course of three months.
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The Wall Street Journal reported this week that the iPhone 5's success could also boost the American economy, adding between a quarter and half a percentage point to gross domestic product in the fourth quarter. This prediction comes from J.P. Morgan's chief U.S. economist, Michael Feroli, who estimates that Apple will sell 8 million iPhone 5 units domestically before the year's end. In the fourth quarter alone, the iPhone 5 could add $3.2 billion to the GDP.
Apple is expected to unveil an iPhone that is drastically different from its predecessors. The most common rumors promise a thinner body, longer touch screen, bump in resolution, refined camera, faster processor, longer battery life, 4G LTE support and a new mobile payment component. Other rumors have been more extravagant, hyping everything from an edge-less display to a bendable screen that is virtually indestructible.
Hype for the iPhone 5 is fast approaching an all-time high for its producer, with numerous reports claiming that the demand far outweighs that of the iPhone 4 and the iPhone 4S.
There has been little talk about the possibility of an upgrade to Siri, the voice-activated virtual personal assistant that accompanied the iPhone 4S. Although widely expected that Apple will upgrade the software, but it is unclear in what form.
In preparation for the iPhone 5's release, Apple is said to have shifted away from using Samsung components. Apple is believed to have distanced itself from Samsung after facing a heated legal battle with the company this summer.
That move could cost the company, as it could impact the iPhone 5's supply chain.
When Apple's new smartphone is unveiled, it will be scrutinized and compared to a host of competitors, including Nokia's (NOK) Lumia 920, Samsung's Galaxy Note II and Galaxy S III, and three new Razr phones from Google (GOOG) and Motorola.
More from Benzinga
Lets see... the new iPhone5 is rumored to have... a larger screen (most new androids already has it), thinner body (once again andriod), better camera (check, android), 4g LTE (android 2 years ago), faster processor (check check check), near field radio (need I say more), etc, etc, etc.
OMG, iPhone5 will be the newest latest in all technology!!! And somehow apple is suing Samsung for copying its features. Look in the mirror. Apple is yesterday's technology which sells the image of being hip and trendy.
Lets see, new i-Phone and data plan with massive overcharges or health insurance? One has to have priroities.
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