The worldwide handset business is riding a growth curve this year, as manufacturers seek to fill surging demand for new mobile phones in both emerging markets and mature ones.

Shipments will grow nearly 11% in 2004, according to this new report from In-Stat/MDR.

In the new report "Riding the Growth Curve: Annual Mobile Handset Forecast," In-Stat/MDR forecasts shipments of 591 million units.

Also, mobile phone manufacturers will generate more than $89 billion in revenue this year.

Some of the key drivers for this growth include:

• Growing demand from emerging markets, such as India
• New camera phones with 1- and 2-megapixel resolutions
• Strong replacement rates in mature markets
• Strong demand for mid-tier models, and flip phones

Other metrics included in the report are: vendor market share and five-year forecasts by region, and by air-link.

If you need to know what's happening in the mobile phone business, this report is a must-have tool.