Data protection firm Credant Technologies says that of the 2,200 devices lost in the 15 busiest US shopping malls in 2011, just half were claimed by their owners.
Lost devices weren't just smartphones either as a combination of the mobile phones and tablets accounted for 92 per cent of the missing items, according to the report.
Further results show that 60 per cent of lost devices were found in food courts while 40 per cent were found in toilets, which demonstrates just how reliant consumers have become on their mobiles.
Seán Glynn, marketing VP, Credant Technologies, says: "Unsuspecting smartphone users have become victims of identity theft and fraud crimes perpetrated by criminals and the evidence is that these devices are increasingly a target of choice.
"The vast majority of corporations, and consumers for that matter, are just now realising the inherent dangers that come with having such a plethora of sensitive information stored on these mobile devices."