The global trend in the handset industry has evolved rapidly in most countries from a simple voice service to the current video broadcasting. A good understanding of the handset industry is needed for the OEM’s to address the customer needs. This study focuses on the RF components market for the cellular industry from a global perspective. The segments addressed are the switches, filters, power amplifiers, and the transceivers. The key focus areas in this study include the market participants, their shares, industry challenges, market drivers and restraints, future technology, and the growth potential. Also, a comprehensive analysis of the key industry participants, their technology expertise and their major customers are also addressed.