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Article: Apple iPhone: Wholesale Refresh Or No? The Nitty-Gritty !
I would say Apple fans will say the following whatever the specs of the IPhone 5 are: "It's Apple, It's New, It will be in a limited supply, I want it and I want it now!! Gimme, Gimme, Gimme here's my cash, I have mortgaged my home/car/insert whatever here" There have already been surveys done which show a lot of people will buy, no matter what the internal specs are simply because it has a new name/design, and in the end even if the specs do not match the higher end Androids, the build quality will be superb (Apple has always done a good job on this), and the operating system works well. I have to say that when non-techie people have held the IPhone (no matter which model) and used the touch screen they have liked the feel of it. So Apple will win out, and all of you with IPhone 4's just upgrade your IOS to the same one that's on the IPhone 5 and you will be able to last until you can afford the upgrade!
One thing Apple has got right over the years is the build quality, and the visual appeal of all of their goods. Look at the MacBook in comparison to the average PC (I am talking about the outside not the inside), look at the IPad2 in comparison to the PlayBook or any other Pad and it just tends to be more visually appealing. It is not until you start using the items that it becomes obvious that it may not have been the best buy for you, and then it would only be the case if you truly had an alternative to compare to.
So good luck to Apple and to all who go out and buy their new toys after all it means more money will circulate in the economy, maybe more Apple stores will open, more accessories will be built, more people will be employed in China and Brazil to build them (oh wait a minute we need more people to be employed in the US, never mind that will happen eventually), and the stock market will smile down on Apple from on high with the Apple stocks going up in value.
^^^after all that, it's micro economics.