Will this slow economy hurt the mobile business?

Our economy is bad.  Very bad.  It is gotten to the point now that even mobile businesses are hurting. 

At least 2 analyst groups have cut their global forecasts for global cell phone sales for the next year our (consumer) concerns about the economy.  

UBS analyst Maynard Um told Reuters  that he is cutting his forecast for growth in the sector in half.

He first had said it was 6 percent, that has been reduced to 3 percent now, with the North Amercian and European martkets being ever so slow.

That might be surprising to you, but not some.  With so much of the European and North American populations having cell phones .  With the troubled times, some folks might be putting off upgrading to new shinier toys.  But as for China, whose market is somewhat less saturated than ours, people might be more likely to splurge on wireless tech.

What about you?  Are you holding off on upgrading to the iPhone?  Blackberry Storm? or Googles G1?  Feel free to leave your thoughts.