Smartphones, social networks to boost mobile advertising

Advertising on mobile phones should really take off within two to three years, driven by new applications on smartphones and the growing popularity of social networks such as Facebook, according to a Reuters report. Executives, who attended last week’s Cannes Lions 2009 ad festival, told Reuters that emerging economies were also promising though the lack of a global mobile phone standard could be a brake to speedy development. As more consumers embrace new technologies and devices such as smartphones, personified by Apple’s iPhone, mobile advertising is seen growing at an annual average of 45 percent to reach $28.8 billion within 5 years from a current $3.1 billion, according to Ineum Consulting.

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