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Effect of recession or credit crunch on telecom companies case study ORANGE
Pages 3 (753 words)
The ominous signals starting from the US mortgage crisis are gradually spreading to almost all corners of the world. This started impacting the functioning of banks and financial institutions. The credit crisis gradually spread to other industrial sectors as well…
The cascading effect has made the companies to think about the ways and means to handle the crisis. The telecom sector which initially gave indications of defying the recessionary trends has also started feeling the pinch. Saverio Romeo, the ICT analyst at Frost & Sullivan recently said that, the IT sector is going to be hit mainly in two ways1;
Technology has brought about many changes in almost all spheres of life. Information technology in particular has proved to be a great influence towards transforming the way we communicate, listen to radio broadcasts, watch television broadcasts, impart education, search for information, track the movement of processes and services etc. Telecom sector is the key beneficiary of the IT revolution. Today, a simple mobile instrument can be used for services like, mobile-banking, storing songs, m-commerce, handy television receiver, net-surfing etc. besides serving as a telephone instrument. Telecom companies are making fullest use of this fusion in ICT by coming out with a number of schemes for retaining the existing customers as well as for attracting the potential customers. Reputed brands like 'Orange' have been investing in Research and Developmental activities as well. 'Orange Labs' from the France Telecom-Orange Group play a leading role in carrying this trend forward. ...
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