Chip maker Intel's vice-president says the telecoms industry is heading for bankruptcy because of the huge amounts of money spent on securing third generation mobile licences.
Hans Geyer told delegates at the GSM World Congress in Cannes that the major telecoms companies were likely to spend another $100bn on building 3G networks.
He warned that the industry should now be concentrating on finding services and applications that consumers would buy, as mobile sales growth was levelling off.
Intel has become one of the key suppliers of semiconductors to the mobile industry.
