NEW YORK - I have already told my subscribers to Forbes Wireless Stock Watch that the best way to play the growth in next-generation CDMA networks is to own shares of Qualcomm. The technology is widely used by cellular providers such as Verizon Wireless and Sprint. But what’s the best way to play the growth in GSM, which is used by carriers such as T-Mobile, Cingular and Vodafone?

In the U.S., as new 3G networks are being deployed, there is much excitement over the prospects for CDMA technology. But in Asia and Europe, GSM is the predominant technology, and on a worldwide basis, GSM is much more widely used. Consider this: At the end of 2004, there were some 1.3 billion GSM subscribers–about 75% of the world’s handset subscribers. And GSM makes up about 90% of subscriber growth over the past year.

One way to take advantage of GSM’s huge footprint–as well as the growth opportunities for the technology–is by acquiring shares of Click here for more…