NEW YORK, NY -- (Marketwire) -- 10/29/12 -- Mobile advertising has grown into a major market as the use of smartphones across the globe continues to expand rapidly. Worldwide the total number of smartphones in use in the third quarter was 1.03 billion, a 47 percent increase from third quarter 2011. By 2015, that number is predicted to double to 2 billion units. Five Star Equities examines the outlook for companies in the Social Media Industry and provides equity research on Millennial Media, Inc. (NYSE: MM) and Vringo, Inc. (NYSE: VRNG).
The rapidly growing popularity of smartphones worldwide has made mobile ads a viable option for advertisers. Research firm eMarketer estimates that spending on mobile advertising in the U.S. will reach $2.61 billion in 2012, before soaring to nearly $12 billion in 2016. In 2012, eMarketer estimates that the average amount of time U.S. consumers spend on their mobile devices -- talk-time not included -- will rise 51.9 percent to 82 minutes per day, a sharp increase from an average of just 34 minutes in 2010.
"It grew from an almost insignificant category to a now meaningful category in under two years," said David Silverman, a partner at PwC.
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Millennial Media is the leading independent mobile advertising platform company. The company's technology, tools and services help app developers and mobile website publishers to maximize their advertising revenue, acquire users for their apps and gain insight about their users. Millennial has reported that they expect third quarter revenues to be in the range of $46.5 million to $47.0 million, up from their previous estimates of $43.5 million to $45.0 million.
Vringo is engaged in the innovation, development and monetization of mobile technologies and intellectual property. Vringo's patent portfolio consists of 31 patents and applications, 11 of which have been granted. The company has recently reported that it has filed a patent infringement lawsuit against the UK subsidiary of ZTE Corporation.
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