After some deals in Asia overnight, Yahoo! now claims that its search feature is on 600 million phones.

According to Reuters, "the mobile advertising market is expected to rise to $16.2 billion in 2011 up from $1.5 billion in 2006."

Some Yahoo! shareholders may not want to wait until 2011. Yahoo! also has too much competition in the mobile market. Its new best friend Google (GOOG) has a major initiative there. So does Microsoft (MSFT). In the world’s largest cellular and internet market, search is dominated by Baidu (BIDU), the local favorite.

If, by some stretch of the imagination, Yahoo! could have 20% of the wireless search market in five years, it might pick up an additional $3 billion in sales. By then, Google’s corporate revenue will be that much money every two weeks.

Douglas A. McIntyre