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Comment on Apple's upgrade dilemma

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Note that the iPhone/smart phone market is in no way saturated - there are many dumb/feature phone users to sell to. We only just passed 50% of the US market being smart phones. There are currently about 6.5 billion mobile phone subscribers worldwide, but only about 1 billion smart phones. That leaves a market five times the size of the existing smart phone base, or in other words the smart phone market is only 16% saturated.

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