According to research firm IDC the worldwide handset market grew by 14.3% despite economic woes in the US. According to IDC worldwide mobile phone vendors shipped 291.6 million units during Q1 2008 down 11.6% from the Q4 holiday shopping season.

The amount of handsets shipped was up from Q1 2007 with 255 million units shipped then. IDC says that economic downturn may affect the shipment of handsets for the remainder of the year. The top five vendors for the quarter in order were Nokia, Samsung, Motorola, LG Electronics with Sony Ericsson in last.

"The mobile phone market will be under increased pressure from a number of factors that compete for users' attention and wallets," said Ramon T. Llamas, senior research analyst with IDC's Mobile Device Technology and Trends team. "Disposable income is being eroded by rising food and fuel prices and worries about global financial markets and slow economic growth are creating a cautious outlook for the months ahead. Against this backdrop, many emerging markets continue to offer tremendous growth potential and IDC expects highly competitive pricing and innovative service plans will keep the overall market on track for the year."

Via IDC