A few months ago i wrote about how i questioned the future of Nortel, the biggest
telecommunications vendor in North America. Nortel just filed for bankruptcy! Even I didn't think it was going to go this fast!
Nortel lost a whopping C$3,4 billion in the third quarter. Its shares were down to 11 canadian dollar cents, making its market cap a mere C$57 million. In 2000, its market cap was $350 billion. Hows that for loosing value? :-)
Blame it on the economy, if you want, but the fact is that Nortel just didn't have a future. Consequently it filed for Chapter 11. Probably the credit crunch was just a catalyst. Businesses are increasingly looking for communication tools that help them cut costs and become more productive and efficient, and this is something that in the PBX world only software-based phone systems like 3CX can offer.
I've always said that in the near future, we will see a strong consolidation trend across the VoIP & PBX industry. There will be more price competition, better quality and more innovative products and only those with the best offer will survive.