经济学人91:电信网络 双巨头

 　　Business Telecom networks Two's company

　　商业 电信网络 双巨头

　　In an industry with a cost leader and a price leader, is there room for others?

　　当一个行业里既有成本领导者又有价格领导者的时候，其它公司还有市场空间吗？

　　REVOLUTIONS in technology bring benefits to millions, but the companies that make them happen do not always thrive.

　　技术上的革新总是给数百万人带来好处，但是那些实现技术革新的公司却不一定会因此而兴旺发达。

　　Even when demand is booming, competition to meet it can be brutal¹.

　　即便是需求迅速膨胀，其市场竞争也会非常残酷。

　　Makers² of telecommunications networks know this only too well.

　　通信网络设备制造商非常清楚这一点。

　　They perform the unseen miracles that allow ever more people to talk, work and play on ever smarter devices just about anywhere, but their rewards have been mostly meagre.

　　它们默默地创造着奇迹，让更多的人可以在任何地点通过更智能的终端聊天、工作和娱乐，但得到的回报却少的可怜。

　　Merger³ and failure have thinned their ranks.

　　频繁的并购和失败的经营导致这个行业的玩家不断减少。

　　In 2009 Nortel, a Canadian equipment-maker, went bankrupt.

　　在2009年，北电（一家加拿大的通信设备制造商）破产。

　　This year Motorola's wireless-network division was bought by Nokia Siemens Networks (NSN), a Finnish-German joint⁴ venture created in 2007.

　　同年，摩托罗拉的无线网络部门被诺西(一家芬兰和德国的合资公司，创建于2007年)收购。

　　France's Alcatel and America's Lucent merged⁵ in 2006.

　　法国阿尔卡特和美国朗讯也早在2006年合并。

　　None of these mergers⁶ has brought much success.

　　然而这些兼并案例并没有获得多少成功。

　　NSN has yet to make an annual profit.

　　诺西的年度收益至今还是负的。

　　On November 23rd it said it would shed 17,000 of its 74,000 workers and concentrate on mobile-broadband networks, for which demand is set to grow explosively, and on services (eg, managing and maintaining networks), where it is relatively⁷ strong.

　　在11月23日，诺西宣布将裁员17000人(现有员工数74000人)，将把经营聚焦于蓬勃发展的移动宽带网络业务和相对强劲的代维业务(如管理和维护网络)。

　　It had already sold a microwave-technology business; and on November 29th it announced the sale of another small unit.

　　诺西已经出售了自己的微波业务部门；并于11月29日宣布售出了另一个小业务单元。

　　Alcatel-Lucent reported falling revenues and negative cashflow in the third quarter.

　　据报，阿朗在3季度销售额下跌，现金流为负。

　　Investors⁸ are said to be impatient with its boss, Ben Verwaayen.

　　投资者也开始对阿朗的老板本. 韦华恩失去耐心。

　　Must all struggle? All but two, it seems.

　　难道都是在苦苦挣扎么？似乎有2家是例外。

　　"Telecoms equipment is a scale game," says Richard Windsor of Nomura, an investment bank.

　　一位来自野村证券(一家投行)的分析师理查德.温莎称："通信设备制造业是一个规模游戏"。

　　Network-builders need scale to support the hefty fixed⁹ costs of research and development.

　　网络建造者需要规模效应来支撑沉重的研发固定成本支出。

　　"You can be either the cost leader or the technology leader.

　　他说："你可以是成本领先者或是技术领先者。

　　If you're neither of those, you're in a spot of bother."

　　但如果你两头都不搭，那你就有麻烦了。"

　　The technological¹⁰ pace is set by Ericsson, a Swedish company that scoops¹¹ more than a third of global mobile-infrastructure revenues, according to Gartner, a research firm.

　　爱立信，这家技术研究型公司引领着技术的步伐; 据高德纳调查，这家来自瑞典的公司攫取了全球三分之一的移动基础网络建设收入。

　　It boasts 27,000 patents and was part of a six-firm consortium that paid $4.5 billion for a load of Nortel's patents in July.

　　它声称拥有27000项专利，同时也是在7月份为收购北电专利支付45亿美元的财团(由6家公司组成)成员之一。

　　"Anyone [designing] mobile phones or networks needs an agreement with us," says Hans Vestberg, its boss.

　　爱立信的老板汉斯. 卫翰思宣称："任何一家设计手机或是网络的公司都需要和我们签订协议。"

　　The cost leader is Huawei, a Chinese firm.

　　而成本领先者则是一家中国公司, 华为。

　　Its global market share went up from 4.5% in 2006 to 15.6% in 2010, reckons Gartner, despite the political obstacles it faces in America. (Some American politicians fret¹² about Huawei's opaque¹³ ownership and possible military ties.)

　　尽管它在美国市场遭遇了政治障碍(一些美国政客担心华为不透明的所有权及可能的军方背景); 但据高德纳估算，它的全球市场份额依然从2006年的4.5%增长至2010年的15.6%.

　　Even Ericsson feels the price pinch.

　　即使是爱立信也在为价格头疼不已。

　　Its revenues have risen this year after falling in 2009 and 2010, but its margins¹⁴ have been slimmer.

　　虽然其收入在经历2009, 2010两个财年的下滑后，今年有所回升，但利润却变少了。

　　Mr Vestberg explains that Ericsson has been building new networks for mobile operators and modernising old ones.

　　卫翰思先生解释道，这是因为爱立信在为移动运营商建设新网络同时改造旧网络。

　　That means winning open tenders and taking an initial hit to margins.

　　这就意味着它每赢得一个公开招标就开始一次对利润的冲击。

　　Mr Windsor says that the companies caught in the middle lack the margins either to invest on Ericsson's scale in R&D or to fight Huawei on price.

　　温莎先生称："这些公司都遭遇了利润瓶颈，既无法做到像爱立信对研发的投资规模，又不能和华为打价格战"。

　　NSN was loth to compete on prices before Rajeev Suri became its boss in 2009, says Bengt Nordstrom of Northstream, a consulting firm.

　　据北流咨询公司的本格特?诺德斯特姆称，在2009年拉吉夫?苏瑞担任诺西的老板以前，诺西根本不愿意开打价格战。

　　Its market share is down to around a sixth, even with Motorola; it inherited a quarter from its parents.

　　它以前从母公司继承了1/4的全球市场份额，而现在其市场份额连同摩托罗拉算在一起，已下降到了1/6。

　　Now Mr Suri is taking an axe¹⁵ to costs, though he has not said exactly what he will chop.

　　如今苏立先生大刀阔斧削减成本，尽管他并没有明确表示要砍掉哪一部分。

　　He thinks others will also have to narrow their ambitions.

　　他认为其它公司同样将会采取收缩战略。

　　Life will get no easier for those squeezed between the Swedes and the Chinese.

　　那些被瑞典人和中国人夹在中间的公司日子会不好过。

　　Ericsson's scale and technical edge are handy when, say, talking to mobile operators wanting to handle lots of data faster and without interference.

　　对于那些想要获得更快处理海量数据和抗干扰技术能力的运营商，爱立信凭借所拥有的规模和技术优势可以手到擒来。

　　And for those for whom cheap kit¹⁶ is paramount¹⁷, Huawei will still be hard to beat.

　　而对于那些以设备价格低廉为至上原则的运营商市场里，华为则难逢敌手。

1 brutal   

adj.残忍的，野蛮的，不讲理的

参考例句：

• She has to face the brutal reality.她不得不去面对冷酷的现实。
• They're brutal people behind their civilised veneer.他们表面上温文有礼，骨子里却是野蛮残忍。

2 makers   

n.制造者，制造商（maker的复数形式）

参考例句：

• The makers of the product assured us that there had been no sacrifice of quality. 这一产品的制造商向我们保证说他们没有牺牲质量。
• The makers are about to launch out a new product. 制造商们马上要生产一种新产品。 来自《简明英汉词典》

3 merger   

n.企业合并，并吞

参考例句：

• Acceptance of the offer is the first step to a merger.对这项提议的赞同是合并的第一步。
• Shareholders will be voting on the merger of the companies.股东们将投票表决公司合并问题。

4 joint   

adj.联合的，共同的；n.关节，接合处；v.连接，贴合

参考例句：

• I had a bad fall,which put my shoulder out of joint.我重重地摔了一跤，肩膀脫臼了。
• We wrote a letter in joint names.我们联名写了封信。

5 merged   

（使）混合( merge的过去式和过去分词 )； 相融； 融入； 渐渐消失在某物中

参考例句：

• Turf wars are inevitable when two departments are merged. 两个部门合并时总免不了争争权限。
• The small shops were merged into a large market. 那些小商店合并成为一个大商场。

6 mergers   

n.（两个公司的）合并( merger的名词复数 )

参考例句：

• Mergers fall into three categories: horizontal, vertical, and conglomerate. 合并分为以下三种：横向合并，纵向合并和混合合并。 来自辞典例句
• Many recent mergers are concentrated within specific industries, particularly in retailing, airlines and communications. 现代许多合并企业集中进行某些特定业务，在零售业、民航和通讯业中更是如此。 来自英汉非文学 - 政府文件

7 relatively   

adv.比较...地，相对地

参考例句：

• The rabbit is a relatively recent introduction in Australia.兔子是相对较新引入澳大利亚的物种。
• The operation was relatively painless.手术相对来说不痛。

8 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

9 fixed   

adj.固定的，不变的，准备好的；(计算机)固定的

参考例句：

• Have you two fixed on a date for the wedding yet?你们俩选定婚期了吗？
• Once the aim is fixed,we should not change it arbitrarily.目标一旦确定，我们就不应该随意改变。

10 technological   

adj.技术的；工艺的

参考例句：

• A successful company must keep up with the pace of technological change.一家成功的公司必须得跟上技术变革的步伐。
• Today,the pace of life is increasing with technological advancements.当今， 随着科技进步，生活节奏不断增快。

11 scoops   

n.小铲( scoop的名词复数 )；小勺；一勺[铲]之量；（抢先刊载、播出的）独家新闻v.抢先报道( scoop的第三人称单数 )；（敏捷地）抱起；抢先获得；用铲[勺]等挖（洞等）

参考例句：

• two scoops of mashed potato 两勺土豆泥
• I used three scoops of flour and one(scoop)of sugar. 我用了三杓面粉和一杓糖。 来自辞典例句

12 fret   

v.(使)烦恼；(使)焦急；(使)腐蚀，(使)磨损

参考例句：

• Don't fret.We'll get there on time.别着急，我们能准时到那里。
• She'll fret herself to death one of these days.她总有一天会愁死的.

13 opaque   

adj.不透光的；不反光的，不传导的；晦涩的

参考例句：

• The windows are of opaque glass.这些窗户装着不透明玻璃。
• Their intentions remained opaque.他们的意图仍然令人费解。

14 margins   

边( margin的名词复数 )； 利润； 页边空白； 差数

参考例句：

• They have always had to make do with relatively small profit margins. 他们不得不经常设法应付较少的利润额。
• To create more space between the navigation items, add left and right margins to the links. 在每个项目间留更多的空隙，加左或者右的margins来定义链接。

15 axe   

n.斧子；v.用斧头砍，削减

参考例句：

• Be careful with that sharp axe.那把斧子很锋利，你要当心。
• The edge of this axe has turned.这把斧子卷了刃了。

16 kit   

n.用具包，成套工具；随身携带物

参考例句：

• The kit consisted of about twenty cosmetic items.整套工具包括大约20种化妆用品。
• The captain wants to inspect your kit.船长想检查你的行装。

17 paramount   

a.最重要的，最高权力的

参考例句：

• My paramount object is to save the Union and destroy slavery.我的最高目标是拯救美国，摧毁奴隶制度。
• Nitrogen is of paramount importance to life on earth.氮对地球上的生命至关重要。