This chapter describes Finnish mobile telecommunications industry trends and prospects. In addition, it presents two theoretical frameworks based on the Finnish companies’ experiences in the turbulent m-commerce markets. First, the internationalization framework is targeted to facilitate m-commerce actors to position themselves in the global telecom business. Second, the mobile media framework is targeted to facilitate analyses related to the emerging mobile media markets. Furthermore, the chapter presents five mini-cases of Finnish m-commerce companies and concludes with theoretical and managerial implications to m-commerce actors.