Will Economy Effect Telecom?
As emerging markets continue to defy the gloomy economic outlook, both domestic and multinational companies believe they are effectively positioned to succeed in emerging markets. However, a section of it- is very optimistic about the prospects for revenue growth in next couple of years.
Francois Barrault, CEO, BT Global Services feels that the emerging markets are bullishly optimistic about their economic prospects, in contrast to much of the developed world.
The telecommunications is one of the growing industries in India. With the newer application technologies and devices coming in, the teledensity of country has become close to 30%. The telecom market has got a boom as the emerging trend focuses on design, as well as stylish and enhanced-functionality devices , said Sunil Dutt, country head, Samsung India.
We see a shift from VGA to mega pixel cameras , he said. The Economic Intelligence Unit survey sponsored by BT Global Services highlighted that the companies operating in emerging markets are seeking ambitious revenues and profit margins.
According to the survey- Executives believe the key to success lies in matching growing consumer demand for high quality goods and services. Nearly six out of 10 firms (56 per cent) put this success factor ahead of price. 24 per cent respondents point to the importance of a strong brand and some executives even argue that brand loyalty is now greater in emerging markets than mature countries.
The findings, however suggested that Western firms, which are entering into these emerging markets must use their financial, brand and management strengths to achieve rapid growth. On the other hand, domestic companies within these markets feel they hold a key advantage over foreign firms with their strong local knowledge and contacts.
Convergence and collaboration are at the heart of what we do for all our customers and are creating services that blur the difference between fixed and mobile, IT and communications, networks and services. They are definitely the future for IT, telecom and media networks in India”, said Sudhir Narang, MD, BT India.
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