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Growth of smartphones is rising rapidly, and if an investor takes an industry-centric point of view, the idea that most new phone sales are smartphones would be easy to accept.

However, the latest data shows that while smartphone sales grew fully 68 percent to 18.9 million units in the first quarter, compared to the estimated billion total mobile phones expected to ship this year, they grew from being a drop in the bucket to somewhat more than that:

According to Yahoo Finance:

Smartphone shipments rose by a whopping 67.8 percent during the first quarter of 2006, versus the same period a year ago.

According to IDC’s Worldwide Quarterly Mobile Phone Tracker, the number of converged mobile devices or “smartphones” as they are more commonly known, sold during the first three months of the year totalled 18.9 million units, up 7.5 percent from the fourth quarter of 2005.

Smartphones are mobile phones that have their own operating system, can download applications, have large memories and can be synchronised with personal computers.

Source: SmartPhones: Don't Believe the Hype