Mideast accounts for 5% of world mobile market

The Middle East accounted for five percent of the global mobile telecoms market last year, according to a report released on Wednesday.

Last year, the mobile telecoms industry was worth $846bn, down slightly from $848bn in 2008, according to a report by market research firm Dataxis Intelligence.

The Middle East accounted for five percent of the global market, or around $42.3bn.

Europe and Asia-Pacific each accounted for 30 percent of the global market, North America made up 20 percent, Latin America nine percent and Africa six percent.

While the global market contracted slightly, the Middle East market increased 14 percent during the first and second quarters of last year, the report added.