Word: telecoms
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...have things gone so terribly wrong for two of Canada's once esteemed telecom giants? What's happening in Canada is a reflection of a fundamental power shift taking place globally. Once untouchable telcos and their suppliers, including Nippon Telegraph & Telephone Corp., Deutsche Telekom and France Telecom, have become mastodons stuck in a tar pit. They are surrounded by a host of new technologies and hungry cable companies, wireless operators and handset providers with low-cost solutions and must-have apps. These competitors and their supply chains are smarter, faster, more aggressive. And they're gobbling up business...
...Alcatel merged with Lucent Technologies in 2006 in a move intended to grow market share, but it has since axed from payroll 17,500 employees, including its ousted American CEO, Patricia Russo, in what has turned into a restructuring and cultural nightmare. "There are no bronze medals in the telecom-equipment market," says analyst Duncan Stewart of Toronto-based DSAM Consulting. He says Silicon Valley's Cisco Systems and Sweden's Ericsson have the biggest market share, fattest margins and most cash to see them through this downturn...
...even telecom service and equipment suppliers that are prospering have reason to be worried, knowing they are in the crosshairs of free voice providers that want to render the industry as they know it obsolete. The biggest threat to the old order is probably Skype Ltd. of Luxembourg, which has attracted more than 405 million customers since it launched software in 2003 that allows free long-distance calls over the Internet. eBay paid $2.6 billion for Skype four years ago because it believed the free voice operator would mesh well with its auction business. It didn't. Now eBay...
...themselves leading edge are increasingly viewed as utilities that provide a basic service like water or power. What matters most to users is the latest iPhone or BlackBerry with the sleekest applications. These added pressures to the customer base and bottom line may turn out to be for the telecom industry what the automobile was to the horse. Skype co-founder Niklas Zennstrom predicts that in less than a decade, telcos and cablecos will be on the bottom of the telecom food chain, faceless operators of low-value pipes delivering high-value content to smart mobile devices...
...News of the telecom merger and the WHA entry sent Taiwan stocks up over 6% on Wednesday. Global economists responded by immediately upgrading Taiwan's economic outlook; Goldman Sachs added 1% to its forecast for next year's growth rate to 3.5%. JP Morgan also said that the direct flights, tourists, and recent financial agreements are a key to Taiwan's long-term structural growth. "This will also open up a wave or mergers and acquisitions between companies in Taiwan and China," said Chow. "The next industry to watch will be financial industry." (Read about Chinese tourists in Taiwan...