Distress and prosperity
Reading the news can sometimes be distressful. Many players in the telecoms industry are struggling and announcing job cuts. For instance, Nokia Siemens Networks (NSN) has announced 17,000 job cuts, and Nokia has announced 10,000 job cuts, to be effective by the end of 2013. Other companies in the sector are not faring much better: Alcatel Lucent is to dismiss 5,500 people, RIM 5,000 and Motorola (Google) 4,000.
Probably this adjustment at infrastructure suppliers and handset vendors has been made necessary by the global economic crises, that drove vendors to reduce their margins, and for some of them, to redraft their strategy altogether.
At the same time, controversies CTIA, The Wireless Association, and the Application Developers Alliance just released a report that found the app economy created 519,000 jobs just in the United States, a hint that value added is coming now more from software and services than from hardware.
Our secure transactions industry, has successfully demonstrated to its customers, that our technologies actually bring them more efficiency at lowered costs. The development of payment means, the implementation of ID programs, and overall, the expansion of NFC demonstrate major players in the ecosystem are able to expand their business, increase their security, and improve their global efficiency. As a consequence, we have not seen any mass redundancy plan announced in the secure transactions industry.
This positive situation may not last forever. When economic conditions worsen, we have to be always more creative in demonstrating we can bring substantial benefits to our customers.