The telecommunications industry is growing consistently despite a volatile U.S. economy. This industry is identified as a major driver of economic recovery. Telecommunications is one of the few industries to have seen rapid technological improvement even during the last recession. Given the significance of the telecommunications industry as an infrastructure product, we expect the overall economic dynamics to shift in its favor. We also expect the telecommunications industry to grow faster in 2012 compared with 2011. Invention and Innovation The major thrust for the telecommunications sector is coming from nonstop network inventions by carriers. The introduction of super-fast networks such as HSPA+ and LTE has enabled handset developers and chipset manufacturers to develop innovative products that are compatible with the latest network technologies. Products like Apple Inc.’s (AAPL) iPhone, iPADS,
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