Is the mobile phone industry recession proof? Answer us Robert Peston

Sure I know some of you, like me, will be thinking “recession, what recession? I haven’t heard anything about a recession.”  (That was all written in my special sarcasm font). But apparently there is a recession taking place. A thought that just entered my head is that I haven’t heard of any real impact on the mobile phone sector of the economy. 

 

Well, I don’t think the mobile phone industry is, and a quick Google soon found others, and others that are far more qualified than me to comment, agreeing. Which I found incredibly interesting.

 

I am about to fire off an email to see if I can find out whether targets and sales in retail stores are down on last year. I am certainly hoping I get a response to this as it would be incredibly interesting to see if this is about the only market on the high street not being hit by the recession. Not only that, consider the level of bail outs for other industries (cars, banking, etc.), while the mobile industry is only making more and more money. Will the mobile industry end up like the greedy banking industry devouring more and more, ever obsessed by profit until it implodes? I doubt it. Is the mobile industry the safe place to keep money tied up in shares of in banks?? Intriguing, and completely out of my league of financial thinking. We need Robert Peston.

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