One of the world's leading industries is undergoing a revolution. Telecommunications is changing at an astounding speed, driven by the convergence of technologies and the wave of mergers sweeping the industry. BBC News Online takes a look at the changes and their implications for businesses, consumers and markets around the world.
Convergence
Technology is changing faster than ever in the telecoms industry. Television, the Internet, and wireless technology are all converging, calling for huge investments which are reshaping the industry.
Globalisation The old barriers are breaking down. National telephone companies are being forced to compete internationally as they lose the monopoly in their home markets. And companies are increasingly demanding a global service.
Mergers A new merger wave is sweeping through the industry. Over $400bn worth of mergers took place in the last two years, even before the world's largest merger between MCI and Sprint. Now even the biggest global giants could be vulnerable.
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