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iMessage faces rival in Spain

To combat the growing popularity of Apple's (AAPL) free iMessage, Telefonica's (TEF) Movistar, Telecom's (FTE) Orange and Vodafone (VOD) have launched Joyn, a free messaging and in some cases, free calls service in Spain. Free texting apps have bit into wireless providers' revenue. Global SMS revenue will increase at a compound annual growth rate of 3% over the next 5 years, a sharp slowdown from previous high-double-digit growth, said U.K.-based market research firm Informa in May. Other European wireless firms are expected to offer the Joyn messaging service.