Telecom spending reached $784.5 bln in 2004

According to Telecommunications Industry Association, total telecom spending for 2004 was an estimated $784.5 bln, an increase of 7.9% over 2003. Equipment and software purchases increased for the first time in three years, with a 4.7% advance to a total of $15.8 bln. TIA predicts that growth will continue for the near future, to an expected yearly total of $22 bln by 2008.