More proof the credit crunch is dampening handset sales

A second research firm has released statistics which show that the credit crunch is affecting handset sales.

According to Strategy Analytics, the global handset market grew a disappointing 5% year-on-year in Q3 2008, with 303 million handsets shipped over the quarter.

The disappointing growth rate can be attributed to lower growth in emerging markets. Emerging markets have long driven handset sales growth.

Four of the top six handset vendors experienced CAGRs of under 5%, according to the report, and Sony Ericsson overtook Motorola as the world's third largest handset vendor.

Last week research firm IDC released its own research, which estimated that the market grew just 3.2% year-on-year.

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