In a bid to study requirements and expand their smartphone security business, Symantec (NASDAQ:SYMC) conducted a social experiment involving 50 “lost” smartphones. The Symantec Smartphone Honey Stick Project was conducted with smartphones containing simulated personal and corporate data and were placed in high traffic areas in New York City, Washington D.C, Los Angeles, San Francisco and Ottawa, Canada. The goal of this research was to show smartphone users what to expect if they lost their smartphones. 
Smartphones these days contain a lot of sensitive corporate email information, personal information, banking and credit card applications, photos and a whole lot more. Losing an unprotected smartphone is probably worse than losing a wallet and is increasingly being targeted for phishing and identity theft. The smart phones in play had simulated personal and corporate information with spyware that reported its access, along with location statistics and other relevant information.
On studying this information, the following conclusions were drawn:
1. 96 percent of lost smartphones were accessed by the finders of the devices
2. 89 percent of devices were accessed for personal related apps and information
3. 83 percent of devices were accessed for corporate related apps and information
4. 70 percent of devices were accessed for both business and personal related apps and information
5. 50 percent of smartphone finders contacted the owner and provided contact information
Mobile Phone Security To See Explosive Growth
The information gathered from this experiment will most likely go into improving its products such as Norton Mobile Security, Norton Anit-Theft Plugin and a host of mobile security products being developed for smartphones.
In a highly competitive app environment, most of these applications are free or nominally priced. It is likely that it will use this study to start selling mobile security applications to businesses at a premium to keep corporate information secure.
Demand from businesses tend to be inelastic compared to individual consumers who are unlikely to pay for these services. This is a big growth market as smartphones are expected to grow at a rate of 55% or so and reach a yearly shipment size of one billion phones by 2015.  This far outstrips the market growth of PCs which are likely to decline due to increasing adoption of tablets.
Though revenue from Norton for mobile phones is currently very small, this will likely be a key revenue driver going forward. Revenues from the antivirus and security division currently make up 37 percent of its $22 Trefis Price Estimate.
Assuming that Norton’s market share for mobile security follows the same trend as its PC security business, we can expect a potential upside of 5 to 7 percent from its current Trefis price estimate, driven by mobile security. Symantec competes primarily with Intel (NASDAQ:INTC) via McAfee, and Trend Micro and Kaspersky Labs in security software.Notes: