Worldwide mobile phone sales to grow 23% this year: study

Worldwide sales of cellular phones, which totaled $110 billion in 2005, will grow by 23 percent in 2006, according to a report released Wednesday by market research firm In-Stat. The study predicts that sales will continue to grow in coming years, although at a slower rate, and will reach $250 billion in 2011. The study noted that, by 2011, only 52 other countries will have bigger economies than the mobile handset industry would have, were it a country. However, for such rapid growth to occur, several things must happen, the report concluded. The biggest challenge, according to In-Stat, is for mobile device vendors to add features without significantly increasing price. It based that conclusion on a survey of end users it conducted as part of the report, it said in a statement. The study also pointed trends it expects to see in mobile phones. "Big trends over the next five years include adoption of wireless phones as a mobile wallet, and that more users will carry multiple devices," Bill Hughes, an In-Stat analyst, said in a statement. From :