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Global mobile industry expects to lose $20 Billion
By siliconindia news bureau
Wednesday,17 June 2009, 20:20 hrs Comment(4)PrintForward
Bangalore: The global mobile industry is all set to lose $20 billion (about Rs 94,000 Crore) because of the fall in demand in emerging markets such as India on account of the economic meltdown. As per a study, in India, the demand dropped from 30 percent to 8 percent, while in China, the demand fell from 32 percent to 24 percent.
According to the survey conducted by TNS, a market research company, the number of consumers worldwide to buy a mobile in the next six months drops from 28 percent to 23 percent in the year ago, leaving a potential black hole of $20 billion. This fall in demand is predominantly witnessed in emerging markets where handset sales are not subsidized and incomes are lower.
"On top of delaying purchases, consumers are looking to cut back on their monthly spend as well, hurting service providers,"said TNS.
However, the study pointed out that there is likely to be demand for new and advanced products by 2010 and the mobile handset makers need to be ready for that.
"When the economic situation improves and consumer confidence is restored, the market will be flooded with buyers eager for new and exciting products," said Sam Curtis, Development Manager, TNS Technology Sector.
Reader's comments(4)
1: This will have an impact on the service providers investments into service enhancements and product innovations for the next few months to come. inhouse developments would continue until they feel the necessity for external vendort support along with the market optimism which is lacking in the current trends. End of 2010 would see a resurgent telecom world with realtime services along with breakthru sophistication extended to end users free of cost.
Posted by: Praveen Kambhampati - 05:57 PM Jun 18, ' 09
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2: But has the prices come down or will it come down? Can anybody in this sector give some clue?
Posted by: sheshadri - 05:56 PM Jun 18, ' 09
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3: The UAE based telecom company Techorbit have announced they are coming with new utilities which turns the mobile phone utilities from a simple mobile phone to a device which is of a necessity device which meet many of our requirement in our day to day life.
Posted by: Naushad - 11:16 AM Jun 18, ' 09
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4: yes, definitely the mobile industry will witness an increase when the economic conditions be fine. But, when will it happen ?
Posted by: rahul - 10:42 AM Jun 18, ' 09
Reply
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