Although some of this pullback can be explained by the recent moderation in the growth of output, the magnitude of the slowdown has been somewhat greater than would be expected given the normal evolution of the business cycle.

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But that regulation, like the regulations of the 1930s, will set off a cycle of industry evolution.

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Strong upgrade cycle to LTE (Long Term Evolution) capable iPhone starting later this year.

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Motorola said it has extensively licensed its intellectual-property portfolio throughout every cycle of the telecommunications industry's evolution.

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Is this slowdown due to a systemic, permanent shift (like the evolution of digital music or the e-book) or is the industry simply mimicking the overall business cycle (after all, job growth is down in many sectors of the economy today)?

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