Gartner Report: Weak Economy To Slow Handset Market Growth

Market watcher Gartner reports an expected slowing in growth for the cell phone market worldwide. The report sites weakening economic conditions and a softening dollar for the pull back in sales. The report added that increasing competition in the space will hurt average selling prices – good for buyers and bad for sellers. But all is not doom and gloom.  Gartner says that industry growth will slow to 11 percent in 2008, down from 16 percent from last year.  There are, however, more difficult times for certain markets, especially Western Europe where sales are expected to be roughly at 2007 levels.