TOP comes off...EPM addiction to be tested...continued

Nokia announced that it expects the cell phone market to decline more than expected this quarter. Next year it expects the market to decline 5% or more. See Nokia, Again, Cuts Forecast for Cellphone Market CEO Sees Consumers Opting for Less-Expensive Handsets, Hopes to Gain a Larger Piece of Smaller Pie Next Year.

Vodaphone is cutting operating expenses and reducing capital expenditures. AT&T announced that it will layoff 12,000 employees and also reduce capex.

The question is- what are the communication service companies assuming for next year, for subscribers and ARPS- Average Revenue per Subscriber? These are going to be under pressure, both for business customers and for consumers.