According to research from TeleGeography, Skype added twice as many long distance minutes than all of the other long distance providers combined! Although long distance is now only a small part of telecommunications company revenues, Skype keeps on innovating by coming out with video chat for mobile and TV. GigaOm analysts feel that video calls and video chat will make up 30 billion calls by 2015.
This is just one additional instance of established companies feeling competitive pressure from a relatively new comer. The same has happened in music, video and other industries. Competitive dynamics of business continues to be heavily impact by new technology tools making it imperative that all businesses “rethink” everything and focus on digital innovation.