Is UK mobile feeling the credit crunch?

Of course it is.

But thankfully it's an industry that looks more recession-proof than most. Pricing is holding up well compared to retail in general (where 50 per cent off seems to be the norm) and it is easier for most mobile retailers to lay off staff than can be done in manufacturing - O2 for example uses plenty of part-time staffers than are not expensive to reduce.

Anyway.

This week's big reality check was the news that Laird, which makes electromagnetic shields for phones, is to lay off a wapping 5,000 staff and cut production 14 per cent. Fortunately (for some) most of its 14,600 staff are overseas.

The firm is predicting a 10 per cent decline in phone sales next year.

More from the FT here .