Consumers would prefer to cut back on holidays and dining out than reduce their mobile phone expenditure in the face of the credit crunch, according to a new poll.
In Ofcom’s latest Market Report consumer poll 47 per cent of those quizzed said they would cut back on visiting restaurants, while 41 per cent said they are planning to spend less on holidays.
Conversely, just 19 per cent said that they intend to spend less on mobile phones.
The surprising survey results come at a time when a number of mobile manufacturers, including Nokia and Sony Ericsson, have reported revenue reductions amid dwindling demand for new handsets.
However, makers of higher-end mobile phones appear to be weathering the storm better, with sales of the new iPhone 3G S., the Palm Pre and BlackBerry mobiles apparently still booming.
According to Apple, sales of the iPhone 3G S were recently running at 57,000 per day.