The telecommunications industry has experienced major policy changes over the last four decades; the latest wave of privatization that engulfed almost all the developed and significant number of developing countries in the world has turned the telecommunications industry into a dynamic and rapidly growing sector. Research studies show that these new developments have played a crucial role in creating new opportunities for telecommunications companies around the world. With globalization, there has been considerable relaxation of the regulations that were previously exercised by the national government on the telecommunications companies.
Such actions, in the late 1990s, have enthused different distinct industries operating globally, like telecommunications industry, entertainment industry, information technology industry, consumer electronics industry and the different mass media channels, to collaborate with one another. They converged to develop into an innovative industry, named, the ‘ multimedia information industry’ (Chan-Olmsted and Jamison, 2001). This development has facilitated the telecommunications industry to widen its target customer base. At present every business firm operating in the open economies are clients to some telecommunication service provider. The government sector is also a major client for these companies.
Nonetheless, the common population in almost all developed as well as developing countries are users of telecommunication service. The telecommunication service market has received a boost at the beginning of the twenty-first century, with the rapidly increasing popularity of social media channels and mobile phones. There have been huge technological advances that allowed the telecommunication service providers to enter into contracts with the major players in the consumer electronics industry. This gave rise to the creation of high technology communication devices, such as smartphones, tablets and other mobile personal assistance devices.
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