The rapid adoption of cloud computing is enabling U.S. telecom companies to take full advantage of the potential impact of fourth-generation cellular wireless networks (4G) by allowing developers and entrepreneurs to analyze the market's response to new applications, content, solutions and business models, according to a new report from consulting firm Deloitte.

"Cloud computing will allow handheld devices to be more compact and efficient while making them tremendously more useful and powerful," Phil Asmundson, vice chairman and U.S. media and telecommunications sector leader at Deloitte LLP said in a statement.

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