Financial Aspects of Business Essay Example | Topics and Well Written Essays - 1250 words

Financial Aspects of Business - Essay Example It took 20 years for the industry to reach the one billion user mark, but over the last three years the amount of users double to surpass the three billion user mark (Cellular-News). According to Wireless intelligence the exact amount of cellular users is 2.5 billion. 3G technology has revolutionized this industry. 3G is a third generation cellular technology which is associated with services such as simultaneous transfer of both voice and data, downloading information, exchanging email, and instant messaging (Wikipedia). The cellular device has become more than just a handheld phone. The evolution of the capabilities of mobile phones has created new opportunities for companies to generate revenues. Downloading songs for the phone device is an example of an opportunity to create income. The services related to 3G technologies can create approximately $30-60 a month of revenue per subscriber of such services. Another emerging trend is global positioning satellite (GPS) utilization within the phone devices. Korea is a market in which GPS services have been a big success. â€Å"The Korea Association of Information and Telecommunication estimates that cell phone GPS tracking service are growing at an annual rate of 74%†( Wireless, Wi-Fi, RFID & Cellular Industry Trends, 20). An emerging product within this industry are phone devices with the capability to switch from the wireless cell phone network into WiMAX networks. A Wi-MAX network is a wireless internet network with 30 mile radius coverage. These phones hack into the Wi-MAX network an allow user to make p hone calls using the internet. This creates a scenario in which users don’t depend on their cellular service providers. This is a threat mobile companies have to track closely. The Wi-MAX scenario is one of the many reasons 3G technologies must be developed further for the continued profitability of companies in this industry. Also growth within this industry has