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Cell Phone Turns 40

Cell Phone Turns 40 Cell Phone Turns 40

Motorola engineer Marty Cooper placed the first public call from a cell phone - prototype Motorola DynaTAC 8000x weighing in at 2.5 pounds, 9 inches long, 5 inches deep, 1.75 inches wide, comprised of 30 circuit boards, 35 minutes of talk-time, single-line, text only LED screen and took 10 hours to recharge - on April 3, 1973 to Joel Engel, head of rival research department at Bell Labs. "Joel, this is Marty. I'm calling you from a cell phone, a real handheld portable cell phone." Motorola made history on September 21, 1983 when the FCC approved the prototype as the world's first commercial portable cell phone with a cost to consumers coming in at $3,995. Since the first use 40 years ago, cell or mobile phones have completely changed our way of life. The first 10 years of the cell phone consisted mainly of demonstrator phase follow by analogue networks. From 1993 to 2003 the cell phone took shape in the digital decade at which time the cell phone saw its popularity soar. The following phase brought 3G followed by ability to access the Internet, from a Smartphone. Who would have thunk it? In the beginning, cell phone usage was about voice where as today, data is a key evolvement. Its evident that more improvements are yet to come from the almighty Smartphone. Video calling is the upcoming phase for cell phones in the not so distant future. Innovation of the cell phone has only just begun. Estimates currently stand at 7 billion cell phones in use as of today. Over the next 40 years, technological advancements for a mobile phone seem almost unlimited.

Final agreement was announced on Wednesday between Cyprus and the International Monetary Fund. In the agreement, the Cyprus will see IMF supplement a 9 billion euro ($11.5 billion) rescue package from its euro-zone partners with a 1 billion euro lifeline. IMF Managing Director Christine Lagarde said in a statement, "This is a challenging program that will require great efforts from the Cypriot population. We believe that it provides a durable and fully financed solution to the underlying problems facing Cyprus and provides a sustainable path toward a recovery." Part of the agreement includes deficit-reduction efforts estimated at nearly 5% of GDP and will be supplemented by measures worth an additional 2% of GDP. Corporate income tax rate will be increased from 10% to 12.5% and the tax rate on interest income from 15% to 30%. A measure of the budget minus interest payments, Cyprus will aim to achieve a 4% primary surplus by 2018.

Automatic Data Processing Inc. reported on Wednesday that private-sector employment growth slowed down in March, as the economy gained 158,000 jobs. February private-payroll gains were revised to 237,000 by ADP.

CoreLogic reported on Wednesday that U.S. home prices rose 10.2% in February from same period in 2012, reaching the fastest year-over-year pace since bubble-era growth in 2006. "Continued home price appreciation will provide fuel needed to drive further recovery in the home purchase market," said Anand Nallathambi, chief executive of CoreLogic, in a statement. U.S. home prices rose 10.1% over the 12 months ended in February and 1.5% between January and February, excluding short sales and other distressed properties.

According to the Institute for Supply Management on Wednesday, its survey of purchasing managers - the executives who buy supplies for their companies - fell to 54.4% in March from a 12-month high of 56% during February. Of the 18 industries tracked by ISM, fifteen reported growth during March, up from 13 in February. New-orders index of the ISM declined 3.6 percentage points to 54.6% while ISM employment gauge fell to 53.3% from 57.2% which adds evidence to suggest that the pace of new job creation tapered off during March.
 

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April 3, 2013


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