MarketWatch today looks at the market potential for both multi-mode and Wi-Fi-only phones, and at the threat they pose to mobile operators in terms of lost revenue.

Interestingly, the article suggests that the real threat to operators isn't from multi-mode cellular/Wi-Fi devices, but specifically from Wi-Fi-only phones. PCTEL CEO Marty Singer says such phones are cheap to make, and could be huge in Emerging markets where price is an issue.

Still, Strategy Analytics analyst Neil Mawston says the threat of lost revenu from such devices is exaggerated. "There's potential for these phones to steal some mobile minutes in the home," he says. "But it's a portable rather than a mobile device, really, because WLAN coverage remains tiny."