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If you're like an increasing number of Americans, the first thing you attend to every morning is your smartphone. A recent study by Ericcson ConsumerLab indicated that more than one third of Android/iPhone owners use the device before getting out of bed in the morning.

Somewhat ironic, then, that as the phone has become an even more ubiquitous part of our lives, telecom's weighting in the S&P 500 has been shrinking for more than a decade.

According to research from Bespoke Investment Group, telecom stocks now account for about 3% of the S&P 500, nearly half the 20-year average and down sharply from the 9% weighting the sector commanded during telecom's heyday in the early 1990s. The sector shriveled after the dot.com bust, unlike technology, never really recovered.

Energy stocks, on the other hand, which we've grown accustomed to seeing in the daily news, now account for 12.6% of the index, up from its 20-year average near 9%.

We profiled telecom stocks last year highlighting their attractive income prospects, most of which now seem rather meager compared to the sector's price appreciation. Large-cap stalwarts like Verizon (VZ) and AT&T (T) are both up in excess of 20%, not including dividend payouts that both still exceed 5%.

But as was the case last year, some of the strongest names aren't found in the U.S.

BT Group (BT), formally British Telecom, has recently touched new multi-year highs yet remains less than 50% below its 2007 peak. Recognized as the world's oldest telecom firm, the company offers services in over 170 countries and yields 4.97%.

Telecom New Zealand (NZT) also recently broke out to the upside, buoyed by a continuing rally in the country's currency, profiled here last year which now sits at an all-time-high. Shares yield 5.6%.

Also paying dividends over 5% is Bell Canada, now known as BCE (BCE), the major telecommunication concern in Canada, with interests ranging from satellite broadcasting to electronics retailing.

My favorite in the sector remains NTT DoCoMo (DCM), Japan's dominant mobile phone provider with over 53 million customers. The stock has nearly recovered to its pre-earthquake levels and offers a current dividend yield of 3.2%.

Those looking for international telecom without having to choose individual names might opt for more diversified options like iShares S&P Global Telecommunications (IXP) or SPDR S&P International Telecom Sector (IST), which holds a global portfolio ranging from Bezeq SA (Israel) to Vodafone (VOD) (Europe), and has outpaced the broader market year-to-date.

Jonathan Hoenig is managing member at Capitalistpig Hedge Fund LLC. At the time of writing, Hoenig's fund held one of the securities mentioned.