Asia driving mobile boom


t610 Chris Versace, the mobile phone analyst with Friedman Billings Ramsey not only gets the style points for a fancy name, but also our props for being the first on the Wall Street to up the mobile phone sales data for 2004. He recently spent a lof time in Asia and came back convinced that the total mobile phone sales for 2004 would be 9% higher than previously expected totals. Prospects for higher than expected mobile phone shipments should bode well for Nokia, Siemens, Motorola, RF Micro Devices and Silicon Labs, he says.

We are increasing our 2004 mobile phone forecast by 9%, from 570 million units to 620 million. We note that, in early May, we raised our 2004 expectations to 570 million units, from 510 million units. Based on our revised expectations, we now expect mobile phone shipments to grow more than 30% in 2004 versus 2003. Of this growth, we expect more than 50% will be generated by replacement demand while new subscription growth is led by India, Latin America, and greater Asia. We have also increased our 2005 mobile phone forecast to 680 million units.

(Phone Icon courtesy Thomas Schougaard)

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