The next generation iPhone is coming out later this month, Apple announced Wednesday, and there is at lease one place in Chestnut Hill to buy it.

The Apple website points customers to the Radio Shack on Crittenden.

The smartphone officially goes on sale Sept. 21 at 8 a.m., but all stores may not stock the iPhone 5 immediately.

The new iPhone is thinner and lighter than the last two generations, but it is taller to accommodate a bigger screen. Apple says its processing speed is much faster than its predecessors, as well.

The iPhone 5 starts at $649.00, but the price can come down to as low as $200 with a cellular plan subscription.

iPhone 5 sales could boost economic growth in the U.S. by a third of a percentage point during the fourth quarter, J.P.Morgan anticipates. However, NPR's Planet Money says J.P.Morgan's analysis is faulty, predicting that most who splurge on the new product before the end of the year will likely cut back on other spending, making it a zero-sum game.