The rise and fall of the text message

Wireless companies have made a ton of money from text messages- $9 billion in sales in 2010 according to this article from CNN Money. However, the money making days of 2010 may be losing momentum. With the rising popularity of smartphones, there has been an increase in applications that provide free text messaging. These apps are giving wireless providers a run for their money. Will there soon be a power shift in the world of texting?  Here are a couple of things to note: Smartphone users are paying for monthly data plans, which makes free texting possible. While some apps are free to download, others cost a small fee (usually under $10.) And you may only be able to communicate with friends that have downloaded the same app. Moral of this story- nothing is really free.

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