The simple answer is: No, this is not exactly up to 1 m.
In some cases, although this is so, do not count on it. In the urban landscape, sometimes I am crowded out by about 20 meters. But it seems that all the devices get the same offset, so you can determine whether they are close or not.
Edit: I have to say that I have worked a lot with location services on the iphone, so I am absolutely sure of this answer.
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