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This paper focuses on the effect of circuit switched (CS) services on high speed downlink packet access (HSDPA) packet services in the context of the UMTS FDD system. An objective of the analysis is to provide guidelines for the UMTS planning process to prioritize services when resources are dynamically shared between circuit and packet services. An analytical model, taking into account some of the features introduced in HSDPA (namely adaptive modulation and coding (AMC), hybrid automatic repeat request (HARQ) and fast cell selection) and the interaction between CS services and HSDPA, is proposed to approximate the HSDPA cell capacity. Simulation results to assess the efficiency of the analytical model are also reported.