MediaPost is reporting that global cell phone subscriptions grew by 667.6 million in 2007, according to data from technology research firm In-Stat. However, clouds are apparently on the horizon.

"An increase of only 382.5 million subscribers is expected this year due to a slowing world economy and some areas approaching saturation," the report said. "By 2012, growth is forecast to slow to 163 million cell phone customers annually, roughly twice the population increase projected for that year."

China and India remain the two largest and fastest growing markets, especially since there, a subscriber's first cell phone is often his or her first phone of any kind.