According to an equity research firm, the limits of the addressable market in mobile in Sri Lanka will be reached when 2 million more phones are connected. This conclusion needs further interrogation, but on first glance it looks like they have the mobile/per 100 number understated by about 1.1, which does not bode well for the veracity of their claims. For 4.3 million phones to give a mobile teledensity of 21.