$3.5 bln ringtones sold worldwide

The worldwide ringtone market was worth $3.5 bil last year, up 40% from 2002 and representing about 10% of the global music market, according to estimates from U.K.-based research firm ARC Group. Most of those sales have taken place in Europe and Asia, where mobile phone markets are more mature. ARC predicts global sales will surpass $5.2 bil by 2008. IDC estimates that by 2007 ringtones will be a $1 bil market in the United States.