Mobile Phones "Surge" in Second Quarter, Price Pressures Mount

The market for mobile phones, especially for 3G smartphones, is alive and well, says a report this morning from First Global chief strategist Devina Mehra, who writes that mobile phones “continued to record a solid growth and were up 15.3 percent, year over year” in the second quarter “despite challenging economic conditions across the world.” Mehra notes both a “surge” in first-time buyers in developing markets and replacement sales in mature markets, helped by “smartphone features, such as GPS, multimedia and touchscreen.” Gee, ya think? However, the movement of GPS and multimedia to cheaper phones has resulted in some reduction in the industry average selling prices, notes Mehra.

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