Cellphone sales to grow 12%

"There are no credible signs yet of any major double-dip downturn in the handset industry, but that could, of course, quickly change if overall economic conditions were to deteriorate again across the major markets," the research firm said.

Cellphone market volumes grew 13% in the second quarter, it added, boosted by demand for cheap models in emerging markets and for high-end phones in mature regions.

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