Executive Summary (This is a document excerpt)

The economic recession will cast its shadow over the mobile world in 2009. The ramifications of consumers tightening their belts will become increasingly visible as the year progresses. Among the hardest hit will be the handset manufacturers as handset replacement cycles lengthen. During the inevitable cost cutting, operators' biggest investments — network upgrades — will be delayed, as 2009 promises to be the toughest year so far for the European consumer mobile industry.

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