This year, 101 million people worldwide are expected to use NFC (Near Field Communication) contactless payment services on a mobile device.
However, that figure is expected to increase to 516 million mobile users by the end of 2019.
LG Electronics has published its unaudited figures for the third quarter of 2014, with revenue up 7.4% year-on-year to KRW 14.92 trillion (£8.83 billion) and operating profit more than doubling to KRW 461.3 billion (£273.04million).
It says this reflects strong performance from its mobile business. which hit a new record for smartphone sales in the third quarter.
Microsoft has launched a wearable fitness-monitoring device. It’s called the Microsoft Band and is currently available in the USA for $199 (around £124).
The device can link via an iOS, Android or Windows Phone app to the new cloud-based Microsoft Health service.
Lenovo’s acquisition of the Motorola Mobility business from Google has been completed, nine months after the $2.91 billion (£1.8 billion) deal was first announced.
It means Lenovo is now the world’s third largest producer of smartphones, with a portfolio that includes the ‘Moto’ and ‘Droid’ brands.
Huawei has launched a new smartphone in Europe using the Honor brand.
The Honor 6 doesn’t have strong Huawei branding. Instead, it’s been given its own web site - hihonor.com - and is encouraging the use of hashtag #forthebrave on social media.