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But a huge wave of upgrades whenever a new phone was released meant a flood of expenses on the books, hurting profits, says Walter Piecyk, a managing director at BTIG's research unit.
"There is a pent-up demand for bigger homes in Mumbai, and this is still the early wave of upgrades, says Oberoi.
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He cited increased production of the Intel Corporation's faster Pentium 4 microprocessor, the arrival of Microsoft's Windows XP operating system, and a wave of PC upgrades by people who bought computers in the months before the Year 2000 scare.
Apple's strength was particularly notable in that it came during the quarter in which Microsoft finally released the long-awaited Vista version of its Windows operating system, an event that the PC industry was counting on to spur a wave of computer upgrades.
For those who want to hitch a ride on Brazil's already booming economy in anticipation of the wave of infrastructure upgrades in the coming years, Anthony Danaher of Guild Investment Management in Los Angeles recommends buying shares in Banco Bradesco (BBD, 21), the country's second-largest private-sector bank.
That leaves independent contractors out of the wave of pressure to upgrade pay — the latest example being the $15-an-hour 15-an-hour 15-an-hourpoised to becominimumin California and Newagerk.
Every few years a new crop of consoles is launched, spurring a wave of sales as gamers upgrade.
It is designed for very young, high-octane PC's -- 128 megabytes of memory and up, less than two years old -- and if it's a hit, the net effect is likely to be a wave of PC buying and upgrading.
Ahead of its earnings announcement, an analyst upgrade and a wave of optimism that the internet services company would be able to cash in on the video web boom propelled shares up 2.9%, or 59 cents, to a $21.11.
"They demand a lot of upgrades.
Evolve your second set of upgrades.
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