Mobile phone companies 'will target consumers in economic downturn'

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Mobile phone companies 'will target consumers in economic downturn'

Wed 22nd Oct 2008

Development of new enterprise applications on mobile phones will be slowed down as the economy declines, it has been predicted.

Tom Huseby told Mobile Northwest, a mobile phone conference in Seattle, that the growth of such technology will suffer in the economic downturn, macworld.co.uk reports.

But Mr Huseby, managing partner of SeaPoint Ventures, said that application developers are probably going to target consumers more than businesses.

He told the gathering: "I don't think people will spend more money on phones, I don't think they'll buy more games."

In September, Lloyds TSB banking made an advance with a new set of services available on mobile phones.

The possibilities available to customers include being able to use phones to transfer money between Lloyds TSB accounts and text alerts if a debit card is used to make a cash withdrawal or transaction abroad.

Lloyds TSB said that four million of its customers are registered for internet banking and 74 per cent use it to keep track of their money.

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