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On the one hand, you'll likely never find anything so aptly named in finance. It is indeed a beige book. But its real title is the Summary of Commentary on Current Economic Conditions by Federal Reserve District. About two weeks before the Federal Open Market Committee meets to decide on interest rates, Fed governors get a compilation of how individual Federal Reserve banks view their economic health. (Actually, a different Fed bank is responsible each time to put it together, so they pass the workload around like roommates deciding who'll do the dishes.)
Obviously, it's important stuff. Since it's rather timely, many stock traders and economists use it to gauge whether the Fed has the same view of economic conditions as the market seems to.
But it's not scientific -- even the Fed admits that it's "anecdotal." And the Beige Book is the result of dozens of interviews with economists, bank branch managers, market experts and business leaders. As a result, a survey of pessimists in a district can paint a decidedly glass-half-empty picture. What's more, the Beige Book surveys all 12 Fed districts, and economic conditions in Cleveland can be much different than, say, Richmond, Va.
As a result, the Beige Book is rarely a market-mover, unless it contradicts a bunch of other data. So, check out the summary, but you can find better reports to read before nodding off.
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Friday, July 11, 2008
comScore M:Metrics: 80 Percent of iPhone Users in France, Germany and the UK Browse the Mobile Web
Comtex
RESTON, Virginia, Jul 11, 2008 (PR Newswire Europe via COMTEX) ----The iPhone is already among the top phones used for mobile browsing. 3G capability will drive usage even higher as the iPhone challenges its competitors.
comScore, Inc. (Nasdaq: SCOR), a leader in measuring the digital world, today reports that iPhone users surpass all others in mobile media usage, with more than 80 percent of iPhone users in France, Germany and the UK using the device to browse news and information on the mobile Web, compared to 32 percent of other smartphone users.
(Logo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO)
As the market anticipates the launch of the 3G version in Germany and the UK today, comScore M:Metrics, confirms that even on the slower 2.5G mobile network, the iPhone has increased mobile Internet consumption by a factor of 13 times in the case of a category such as social networking sites. The study also found that 42 percent of iPhone users visited a social networking site on their device in May compared to the market average of 3 percent and 10 percent of smartphone owners. E-mail is another popular feature, with nearly 70 percent of iPhone users sending and receiving e-mail with the device, compared to just 26 percent among other smartphones users and 7.6 percent of the cell phone market overall.
Internet Usage Habits among Smartphone Subscribers Three-month Average Ending May 2008 Mobile phone subscribers in France, Germany and the United Kingdom Source: comScore M:Metrics, MobiLens Percent of Subscribers Internet Service Accessed via Phone iPhone Smartphone* Market Any news of information via browser 80.4% 32.2% 10.7% Accessed web search 56.6% 18.3% 5.0% Watched any mobile TV and/or video 32.0% 14.6% 7.4% Accessed a social networking site or blog 42.4% 10.3% 3.2% Listened to music on mobile phone 70.0% 32.5% 18.4% Used email (work or personal) 69.5% 25.6% 7.6% *Smartphone defined as a device running the Windows, Palm or Symbian operating system
"Our data confirm that the iPhone and its requisite data plan have succeeded in drawing consumers to the mobile Web," said Paul Goode, senior analyst, comScore M:Metrics, "Even without 3G networking, users are happy to browse and consume as much content as they can, and as soon as the data speeds improve, these figures will likely continue to increase."
The improvement in iPhone handset features and reduced pricing should have a significant impact on uptake, especially in the European markets where, according to comScore M:Metrics data, the UK has 3G penetration at 26 percent, Germany at 23 percent and France at 17 percent.
comScore M:Metrics also found that while smartphones are adopted by a higher proportion of men than mobile phones overall, iPhones have an even stronger skew to men in the U.K. and Germany. In the U.K for example, 75 percent of iPhone users are male, while men account for about 68 percent of smartphone users. In contrast, in France, 67 percent of iPhone users are men compared to a higher 71% of smartphone users.
Gender Splits among Cell Phone Users by European Country Three-month Average Ending May 2008 Mobile phone subscribers in France, Germany and the United Kingdom Source: comScore M:Metrics, MobiLens Total Mobile Market Smartphones iPhone Country Male Female Male Female Male Female EU3* 50.6% 49.4% 69.4% 30.6% 72.3% 27.7% France 49.2% 50.8% 70.9% 29.1% 67.3% 32.7% Germany 53.7% 46.3% 69.9% 30.1% 71.2% 28.8% UK 48.7% 51.3% 68.2% 31.8% 75.8% 24.2% *EU3 is France, Germany and the United Kingdom.
"It is worth noting that the Nokia N95 8GB with high speed 3G and significant handset subsidies now has over twice as many users as the iPhone across the UK, Germany and France," observed Goode. "Yet the iPhone, despite its small user-base, is already in the top 10 handsets for online browsing in the UK and in the top 5 in France and Germany. It is giving devices like Nokia's N Series and Sony Ericsson K and W Series a definite run for their money."
About comScore
comScore, Inc. (NASDAQ: SCOR) is a global leader in measuring the digital world. This capability is based on a massive, global cross-section of about 2 million Internet users who have given comScore permission to confidentially capture their browsing and transaction behavior, including online and offline purchasing. comScore panelists also participate in survey research that gathers and integrates their attitudes and intentions. Using its proprietary technology, comScore measures what matters across a broad spectrum of digital behavior and attitudes and helps clients design more powerful marketing strategies that deliver superior ROI. With its recent acquisition of M:Metrics, comScore is also a leading source of data on mobile usage. comScore services are used by over 950 clients, including global leaders such as AOL, Microsoft, Yahoo!, BBC, Carat, Cyworld, Deutsche Bank, France Telecom, Best Buy, The Newspaper Association of America, Financial Times, ESPN, Fox Sports, Nestle, Starcom, Universal McCann, the United States Postal Service, Verizon Services Group and ViaMichelin. For more information, please visit http://www.comscore.com.
About M:Metrics
Acquired by comScore, Inc. in May 2008, M:Metrics is an authoritative source of data on mobile usage. As one of the few research firms to measure the audience for mobile media using on-device metering and one of the world's largest monthly survey of mobile users, M:Metrics provides data on actual mobile content consumption by applying trusted media measurement methodologies to the mobile market. M:Metrics monthly syndicated data service gives clients the critical insights and intelligence required to inform smart business strategies and the competitive benchmarks needed to evaluate the performance of competitors and partners. M:Metrics services are used by more than 180 clients, including global leaders in the mobile, advertising, technology and consumer goods industries such as Verizon, Vodafone, Microsoft, RIM, FOX, CBS, BBC, BMW, Samsung, Palm, Qualcomm, Ericsson, O&M, and JWT. For more information, please visit http://www.mmetrics.com.
Web site: http://www.comscore.com
Tina Aird (Lorkin) of comScore M:Metrics, Europe, +44-20-7131-3649, taird@mmetrics.com /Photo: http://www.newscom.com/cgi-bin/prnh/20080115/COMSCORELOGO , AP Archive: http://photoarchive.ap.org , PRN Photo Desk, photodesk@prnewswire.com
Copyright (C) 2008 PR Newswire Europe
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