Established telecommunications companies are exposed to such great competition that Telenor and other companies could be gone in ten years, says Telenor CEO Sigve Brekke.
– We have never been hit so hard by competition than now. If Telenor is unable to lead the renewal that is needed, we could also be gone in ten years, says Brekke in an interview with the newspaper VG.
In a meeting with other telecom heads in Swiss Davos on Tuesday they described how many of the established companies are about to be outdone in several niches.
Brekke even pointed out that experts have said that 40 percent of the established telecom companies could be gone in ten years.
He responds affirmatively to questions that Telenor may die as a company, but says he is convinced that they will manage themselves.
– The business model of Telenor has been attacked. So far we have examined the entire chain of services, but now we are challenged by software solutions and products for product pops up competitors who will take our market share, says Telenor boss.
Source: NTB scanpix / Norway Today