The 2009 decrease has been driven by factors such as a weakening US dollar and predicted declines in the value of the Brazilian real and Mexican peso.
A capex plateau was reached in 2008, says the report, ending a five-year investment cycle and signalling the start of a three-year disinvestment cycle that will be less severe than the one that followed the 2000 crash. After disinvestment bottoms out in 2010, a new capex investment cycle will begin in 2011 which will be driven by 3G roll-outs in India, central and Latin America and Africa. It will also be aided by LTE deployments in Australia, Brazil, western Europe, Japan and North America.
