Cellphone Sales Drop

The cellphone market is experiencing a significant sales slide, with the most serious decline so far among lower-income users, reports the Wall Street Journal. Studies reveal first quarter sales dips ranging from 5% to  22%. Analysts expect growth to slow even further. The market may be reaching saturation with 83% of Americans owning cellphones.

"When money is tight or expected to be tight, many consumers tend to delay upgrading to a new phone and hang on to the one they already own for a little while longer," an analyst explained. (Read more cell phones stories.)