In the developing world, the last five years have seen a rapid slowdown in revenue growth from double to low single digits, falling behind that of the developed world for the first time in 2014. Weak economic growth in many of the developing world’s largest and hitherto strongest growth markets, compounded by the drop in global commodity prices, will serve as a constraint on revenues in the short to medium term. Brazil and Russia are two key examples of former high-growth developing mobile markets whose economies have recently entered