Has recession hit mobile phone market ?

Well said and absolutely right. Take the example of India itself. The telecom market is doing so well thanks to the frop in prices you now have a whole new market from the rural segment.

Suddenly mobile phones and services are very accessible to the rural folk who use it to communicate with one another just to find out the weather or the latest fertilizer in the market etc. In markets like india and china where the rural folk base is huge, telecom markets will grow recession or no recession.

In the developed world it has reached a saturation point as the tele density has already been reached.

Ya sales and profit of Nokia has come down and the reason is all because of iPhone. The market share that the Nokia have lost is captured by IPhone,  We are just seeing competition from the new entrant and not recession.

I agree with abhinav on his comment, and yes recession has no affect on telecom market, if not., one wouldn't have seen so many new high end mobile phones making entry into the market, with all the recession to go by, so even with recession people are spending more on mobile phones which is a status quotient for them.....so mobile phone market is going very good even with the recession......