Ringing up the profits

Yankee Group, the Boston-based research firm, estimates that by the end of this year, American youths ages 11 to 24 will generate $21 billion in revenue for wireless carriers -- nearly a quarter of the total cellular market, reports The Washington Post.

"NPD Group Inc., a market-information company based in Port Washington, N.Y., that has studied teen spending - on sending pictures to friends and downloading ringtones - found that cell phones are becoming an important coming-of-age marker.

"It's become the most important thing before the driver's license," said Marshal Cohen, chief analyst with NPD, which found in a recent study that teens ages 13 to 17 spent 10 percent less in the past year on clothing, largely shifting their spending to cell phones.

emily | 2:59 PM | Random Stats |
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