How is the 4G rollout affecting the global telecoms sector?
The adoption of next generation technologies is changing the dynamics of the global telecommunications industry.
While some regions have had little trouble rolling out 4G networks, other areas have found it far more challenging.
A recent study by the GSM Association (GSMA) showed that Europe is lagging behind North America and Asia in terms of 4G LTE network creation.
At the end of 2012, LTE accounted for 11 per cent of all mobile devices in the US and 28 per cent of handsets in South Korea, whereas this figure was as low as 0.3 per cent in Europe.
Previous research undertaken by the GSMA and Navigant Economics suggested US data speeds are now 75 per cent faster than the European average.
The report indicated that greater spectrum harmonisation is required if the EU is to catch up with the US and countries in the Far East and Asia-Pacific region.
There have been a number of legal wrangles and disagreements between rival communications companies regarding the allocation of new 4G bandwidth in Europe and this appears to have hindered progress.
Europe could take inspiration from Singapore, which has adopted 4G technology at an impressive rate, although not at the same speed as the US or South Korea.
A recent report by RCR Wireless showed that many network providers in the country have been reusing old 2G spectrum to support 4G services and the nation's LTE rollout has been relatively successful to date.
Senior figures at Chinese communications equipment company Huawei Technologies believe the firm will make more than $2 billion in revenue from 4G technology in 2013 alone, Reuters reports.
This further highlights how lucrative the 4G rollout is to multinational telecommunication services providers.
As technology giants such as Apple continue to make their new devices 4G-ready and with some organisations suggesting that 5G technology could soon be developed, it is vital that countries continue to evolve at pace - especially if they are serious about stimulating greater economic growth.