If you want to appreciate the extent of the mobile industry’s benefit to today’s economy, then all you need to read is the first sentence from this Wall Street Journal article:
“If there’s one group of companies that isn’t tied down by the slack economy, it’s those that supply the wiring, chips, and services related to mobile Internet.”
That’s no accident. It’s the result of billions in capital investment that mobile carriers are pouring into the economy. Even during the current economic difficulties, as Merrill Lynch reported this August, for the past three quarters, the national wireless carriers have ramped up their annual capital expenses by anywhere from 6 to 23 percent.