H3G has made great strides this year, but these have mainly been in terms of reported subscribers and market perception rather than in fundamental terms. In this report we examine in depth both its global business model and the all-important funding available in order to assess the likely future for the business, and its subsequent impact on the GSM operators.

Happy Birthday iTunes! It is just over a year since Apple launched iTunes and the media continues to talk up the second coming of the music industry, whose saviour appears in the form of affable Steve Jobs. iTunes sold a total of 70 million tracks online in its first year, well below its target of 100 million, but a respectable showing, especially since it spawned a small flock of competitors determined to out-sell iTunes.