How Do Cell Phones Affect The Economy
“Cell phones today are used by all people in all cultures all over the world” (Luce, 2010). Cell phones are just product of the technological revolution, though a major part indeed. They have greatly contributed to the connected society we live in today. With this, it is safe to say that even if cell phones were to suddenly be out of existence today, they have left their mark in society. This document will seek to analyze the overall impact, both good and bad, that cell phones have had on our economy and environment. Economy Players It is hard to ignore the effect that cell phones have on our economy. Cell phones are a unique technology because unlike some others there are many economic factors involved. The market, in general, is extremely …show more content…
Apple’s timetable is easy to predict. With a two year contract, iPhones typically sell for $199 in the beginning. Once the update becomes available, (usually about a year) the price will drop to $100. Android phones, in all varieties, have much more frequent updates. Because of this, you can see a drop in their prices within just a few months, depending on the device itself. Economic Trends It is an easy argument to win that cell phones have done great things for the global economy. One way to analyze this economic impact is to look at the GDP (gross domestic product) increase in relation to data usage. One such study conducted by Deloitte concludes that “for every 10% shift in American markets from 2G to 3G between 2008 and 2011, per capita GDP increased by 0.4%. (Hendrix, 2012). The figure below displays the steady and then dramatic increase in data consumption per month in various …show more content…
However, the report by Tracy Lunn from Bucknell University “Mobile goes global: The effect of cell phones on economic growth and development” (2011) this is only scratching the surface. To begin, mobile phones create the potential for phone-based services. An example of this is mobile banking or m-banking. This service allows users to check balances, transfer money, pay bills, cash checks, etc. using SMS messaging or mobile apps (Lunn, 2011). There are many benefits (monetary and otherwise) of this service both for the provider and the end
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