Method and apparatus for managing power consumption within a handheld multistandard communication system are disclosed and may comprise receiving a power setting signal from a control device within the handheld multistandard communication system. The power setting signal may indicate a desired power level setting. In accordance with the power setting signal, power supplied to at least one device within the handheld multistandard communication system may be adjusted based on a generated power adjustment signal. The power adjustment signal may control the power supplied to the device. The adjusted power supplied to the at least one device within the handheld multistandard communication system may correspond to one or more power level settings. The power level settings may comprise a NORMAL operating power level setting and/or a LOW power level setting.