Wall Street Beat: Tech pushes Nasdaq to 18-month high

18.03.2010

Smartphone shipments in the fourth quarter of 2009 jumped 25 percent from the prior quarter, .

"Granted, the fourth quarter is usually better than the third, but 3Q saw only a 3.6 percent growth over the second quarter," said ABI analyst Michael Morgan in the report. "The robust strength of this market's recovery is very encouraging indeed."

Apple had its best smartphone quarter on record while Nokia shipped 21 million smartphones compared to its usual 15 million to 16 million, ABI said.

IMS Research, meanwhile, said this week that annual smartphone shipments to Asia are expected to more than quadruple between now and 2015. This jump will give Asia 29 percent of total worldwide smartphone shipments during 2015, IMS said.

"The cellular markets in China and India continue to develop, especially with 3G networks expanding in China and expected to roll out soon in India," said IMS Research analyst Chris Schreck in the report. "Secondly, smartphones are becoming increasingly affordable. As the minimum hardware components required to support smartphone features continue to decline in price, smartphones have become mass market devices, rather than luxury purchases."