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Apple iPhone to boost Australian economy

In just a few hours, the Apple iPhone gave the economy a much needed boost of around $20 million, according to IBISWorld.

While the initial 80,000 units are expected to sell quickly, it is the extra sales staff, security and transport required to stock and restock shelves that will make the difference. Despite it only being a marginal boost in the long-term, it comes at a time when the retail industry is struggling.

IBISWorld’s key forecast: The sale of iPhone will boost handset sales in 2008-09 and with consumer transition to 3G plans, strong growth from data related revenue streams will help to drive the mobile telecommunications industry 5.4 percent higher to almost $15 billion.

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