The mobile phone industry started small in the late 20th century as infrastructure costs exceeded revenues and networks were inefficient, but saw rapid growth in the 21st century as revenues exceeded costs by 2001 and networks reached 98% completion. The number of mobile phone subscribers globally grew exponentially from 14 million in 1990 to over 1 billion in 2008, demonstrating the profitability of investing in this business. Verizon Wireless capitalized on this growth through reliable networks, appealing designs, and media partnerships to become the largest revenue earner among U.S. wireless companies.

1. Mobile Phone Market Continues to Grow Mobile A Network

4. Subscriber Base

5. Explanation of the Graph * 14 million 12,000 Other Subscribers * 215 million 45,000 Asian Subscribers 342 million * 75,000 European Subscribers 263 million * 123,000 U.S. Subscribers 2008 2005 1990