Smartphones experience growth inspite of global ecomonic downturn

Even as the world is experiencing an ecomonic upheaval it looks like that the American smartphone market has experienced a considerable growth in the last quarter of 2008. According to the NPD Group fourth quarter sales survey , smartphones have almost doubled to 23 percent of the US consumer market as compared to only 12 percent in the same quarter of 2007.

Also noteworthy is that half of the smartphones now sold has touch screens and 70 percent offer QWERTY keyboards. Two thirds of the smartphones now use 3G networks as compared to only 46 percent in 2007. Apple’s iPhone, Rim’s Blackberry Storm, the Android G1 phone are some of the top gainers.

It seems Qualcomm is also one of those companies benefitting from all these. The company has just announced that it’s Board of Directors approved an annual dividend increase of 6 percent per share of common stock. This brings the annual dividend to $0.68 per share.