Number of mobile phones in the market 'set to top 4bn'

The number of mobile phones in the global market could be up to four billion by the end of 2008, according to a new study.

Research from the International Telecommunications Union (ITU) said last week that mobile phone subscriptions across the world are expected to reach this figure due in part to the rising demand in developing economies, the Associated Press reports.

The ITU also noted the growth in the number of mobile phones sold globally was "impressive", but added its figures did take into account the fact many people have multiple contracts – and as such was not based on fur billion individuals.

Previously, the ITU has said mobile phone subscriptions were over 3.3 billion for the end of 2007, but adds that this latest growth owes a large part to markets including Brazil, Russia, India and China.

"These economies alone are expected to account for over 1.3 billion mobile subscribers by the end of 2008," the ITU said in a statement.