......As people maybe thinking that the sky is falling...well not really... but as the economic crisis hurts people on paper...I am sure they are thinking the sky is falling......
So, apart from the devastating and somewhat sickening roller-coaster affect on the Nikkei and markets around the world being brainwashed to us on TV, the effects on the global mobile phone market is definitely a market that the TV media seems to be over-looking.
The global mobile phone market has been forecasted to grow at much slower-than-expected rates next year as consumers put off buying new devices due to deepening economic concerns. While mobile phone industry executives often say mobile phones are the last thing consumers will give up, in order to save money, analysts are now forecasting longer phone replacement cycles and weaker sales estimates as a result of weakening economies around the world. Consumer reluctance to upgrade phones coupled with modest growth in China, the downturn to take toll on mobile phone growth is forecasted to reduce global handset growth to around 3 percent from 6 percent, with particular weakness in Europe and North America.
The not so rosey news comes as major phone vendors are betting on the success of higher-end, Internet-enabled smartphones, following the popular Apple iPhone. HP, for example, is expected to be driving into the consumer smartphone market with a new iPAQ model later this year.
Well, with the global credit crunch and possibilities of a global recession ahead of us, all I can say really is.........
....as sand falls through the hour glass these are the days of our times....
Australian Chris
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