"I don't think people will spend more money on phones," said Tom Huseby, managing partner of SeaPoint Ventures, speaking during the keynote presentation at the conference. "I don't think they'll buy more games either."
Nevertheless, Venetia Espinoza, director of mobile applications and partner programs for T-Mobile, felt that mobile phones will remain an important part of people's budgets, despite the sagging economy.
"We're fortunate to be in an industry during this time where consumers will continue to have a 'share of wallet' for wireless," she said.
Upon working at a T-Mobile retail store for the day, Espinoza overheard customers mention that they would rather cancel their landline phones or cable subscriptions before forfeiting their cell phones.