Nearly half of consumers fear losing phone more than wallet

As consumers store more of their personal data and media on their mobile phones, there is growing concern over handset loss or theft according to a new study conducted by independent research house Coleman Parkes on behalf of mobile device management firm Mformation. The study reports that 94 percent of the 4,000 U.S. and U.K, users surveyed store telephone numbers on their mobile devices, and 65 percent also store address and related contact information--83 percent have photos, 51 percent have videos, 48 percent have calendar information and 40 percent store music downloads. Eighty-two percent of respondents said they fear that someone would use the information stored on their phone for fraudulent means if it were lost or stolen--in addition, 90 percent are worried about the loss of their personal data, and 72 percent said the personal information stored on their devices would be difficult to replace. Forty percent of respondents even claimed losing their phone would be worse than losing their wallet.

The Coleman Parkes study adds that 91 percent of respondents said they would be "devastated" if they lost their mobile phone. Three quarters said that it would take a day or more to get a new phone fully up and running with all their personal data after a loss or theft, but 61 percent contend the process should take two hours or less.

For more on the Mformation study:
- read this release