1. D6.3 Business Plan
Task 6.3 Ericsson 1

2. Purpose
PURPOSE: Demonstrate the ADAMANTIUM system capabilities for project’s results commercial exploitation.
AUDIENCE: This deliverable is addressed to people involved in commercialization of ADAMANTIUM results, especially financial staff that will use this document as a reference source for describing exploitation and financial scenarios.
SCOPE: This document develops, proposes and presents the business plan aspects of ADAMANTIUM project, considering the results of the project as well as the market evolution.

3. Content Introduction ADAMANTIUM Market Value Chain
Possible Business Models
SWOT
STOF
Financial Analysis
Exploitation Plans

4. From IMS… to ADAMANTIUM
IMS entails novel business opportunities…
IPTV
VoIP video call
... But it fails due to the lack of user-centric management mechanisms
ADAMANTIUM creates enhanced business models
ADAMANTIUM proposes an IMS-compatible Multimedia Content Management System (MCMS) focused on performing dynamic cross layer adaptations for optimization of the user experience in terms of perceptual quality for media services

5. VoIP – Market Description
VoIP Revenues Forecast by user type
VoIP Revenues Forecast by region 5

6. Mobile VoIP – Market Description
Total VoIP 3G active users base,
Consumers statements on mobile VoIP 6

7. IPTV – Market Description
Global IPTV Subscribers per region (Yankee)
IPTV Spend in Western Europe by subscription type 7

8. Value Chain VoIP IPTV Application Service Provider Network Provider
EndUser
Content Provider
Service Provider
Network Operator
EndUser

9. User-Centric and Network effects BM
QoE (Perceived QoS)
Network QoS
Network Management
The network effects business model involves selling a product or service and the respective profit increases when other customers also use the same product or service.
Typical examples are ADAMANTIUM services (i.e. VoIP, at least, 2 people required)
Network Effects Business Model

10. Network Effects BM in ADAMANTIUM
The main role affected by ADAMATIUM is the mobile network operator
With improved PQoS VoIP/IPTV service, more users will access the Network operator’s mobile network
The Network Operator will get more profit
… BUT ADAMANTIUM model goes beyond the typical Network Effects model…

11. Proposed enhanced BM by ADAMANTIUM
ADAMANTIUM BM proposed for mobile operators exhibits dominant enhancements and characteristics of
Subscription Business Model
Loyalty Business Model
Razor and Blades Business Model
ADAMANTIUM Business Model
The subscription business model
Customer pays a subscription to have access to the product / service
ADAMANTIUM: increase of operator’s subscribers’ figures by offering innovative and quality aware services
The loyalty business model
Used in strategic management to increase the customer retention)
ADAMANTIUM: quality of offered services lead to customer satisfaction, customer retention, and profitability
The razor and blades business model
Offering a product at a low price to generate a continual market for another, complementary, item or service
The operator can decide not to charge for ADAMANTIUM improved quality if their offered services (VoIP and IPTV) generate a market for complementary related services (e.g., advertising, live events broadcasting, VoD)

12. ADAMANTIUM BM Analysis and Impact
The newly formed ADAMANTIUM business model also creates a new Marketing Mix for the mobile operators
Product
An intelligent and PQoS-aware service
Place/Distribution
Mobile network operators have already a well-established sales network. No additional changes are required in the existing distribution network and used techniques
Price
Pricing models to be adopted by the market exploitation of ADAMANTIUM proposal should contribute towards balancing prices and demand
Promotion
Additional ways of promotion might be chosen and participation in several events of commercial interest as conferences, meetings, exhibitions

13. Mobile VoIP SWOT STRENGTHS
Mobile VoIP provides the advantage of portability
Mobile communication at lower costs
New business models are developed, where communication is the core element of every business activity and function
New market opportunities facilitated and reinforced by a continuous stream of accurate and valuable information at lower cost and at a mobile format
Mobile VoIP comes with a host of advanced communication features at no extra cost
Mobile internet is speeding up and consumption of content along with VoIP services is growing due to enhanced technology
Flat-rate pricing packages are attractive in an increasingly complex multimedia environment combined with the possibility of a single and/or fixed bill per month for telecommunications
Mobile VoIP helps service providers achieve economies of scale by reducing their investment, capital and operating costs
WEAKNESSES
Mobile Internet along with services such as VoIP is not yet mass market
Lack of integrated services and policies
Time lag due to standardization processes and continuous evolution of IMS platforms
Interoperability issues between Internet services and PSTN/cellular networks
Internet mobile marketing is not developed in a degree that will boost a usage need for the provided services
High cost of mobile devices capable of offering mobile internet and VoIP
Issues of QoS and Reliability
Mobile VoIP services provided by operators without their own network/infrastructure are provided on a best effort basis only
Dependence of Mobile VoIP availability of service upon factors such as strength of mobile signal reception, roaming policies, mobile internet services and third party service providers
OPPORTUNITIES
New revenue opportunities and greater choice of service and communication features
Advancing the already developed Internet Model and Mobile VoIP communication by establishing new standards
Interoperability and combination of cellular and WLAN
Integration of various other value added services offered by upcoming technological advances in the Mobile Internet and VoIP framework
Enhanced innovative potential through convergence of mobile services, internet, VoIP and technology
THREATS
Resistance by incumbents and established operators, which see Mobile VoIP as a threat to their established PSTN/Mobile revenues
Regulatory uncertainty and lack of commonly accepted legislative framework
VoIP spam or SPIT (Spam over Internet Telephony)
Mobile Phone fraud known as Vishing
Challenger actors such as virtual VoIP operators and third party client providers
Lack of a consistent experience of service and quality across different providers
Consumers’ lack of trust mainly because of insufficient protection of their communication content

14. ADAMANTIUM on Mobile VoIP SWOT
Adamantium add-ons to STRENGTHS
Existing business models add quality aspects in their value chain and become QoS and PQoS aware
Higher consumer satisfaction as a result of improved quality of services
Innovative services (in which higher quality is achieved) attract new consumers and increase levels of loyalty among existing ones
Achieved economies of scale for mobile operators are reinforced by innovative technologies
New services and pricing packages are offered by mobile operators and market competition becomes healthier
Optimized quality of experience and service
Adamantium improvements to WEAKNESSES
Major issues of QoS and Reliability are overcome
Improved QoS form a new basis for Internet Mobile marketing development
Well established mobile operators are becoming interested in offering quality improved and reliable mobile VoIP services
Improved mobile VoIP services offered by more operators will increase demand for VoIP-enabled mobile devices leading the high cost of these devices to fall
Adamantium add-ons to OPPORTUNITIES
New revenue opportunities and greater choice of service based on quality and reliability
New QoS standards are set
New market dynamics and potential for the creation of new marketing processes
Opportunities for increased market penetration and new market targets/segments
Modification of the 4Ps (Product, Price, Promotion, Place) of the offered services leads to new market opportunities
Flexibility of pricing packages leads to increased competition which benefits the end consumer
ADAMANTIUM improvements to THREATS
Established operators will view Mobile VoIP as an opportunity to satisfy market demand for a new, reliable and lower cost voice communication service
New improved quality standards will create a consistent base for experience of service and quality across different mobile operators
Increase in consumers trust related to quality and reliability of VoIP service over mobile

15. Mobile IPTV SWOT STRENGTHS
Innovative mobile service that reinforces mobile operator market position
Convenience of live streaming and/or VoD when on the move
Provision of a service even at places where landlines (communication, power) do not exist
Key Market Players involved are ready to exploit new mobile services / products
Mobile users are becoming more and more familiar with audio visual services and ready to pay for content and QoS
Market Players in the mobile business framework are willing to provide value to services and customers
New services lead to the creation of new pricing models which  drive the content consumption increase
Increase in the sales of mobile devices with Internet/3G capability
Mobile IPTV attracts new consumers and increase levels of loyalty
Filling idle time while on move
WEAKNESSES
Service too complex for some mobile users to use or configure
Cost for using services such as mobile IPTV is still high
High cost of mobile devices supporting mobile IPTV
Not satisfactory QoS for mobile IPTV
Mobile device characteristics (size, screen, analysis, keypad) and drawbacks
High dependence on quality of mobile network and reception conditions per location
Recession/debt has slowed investment and has influenced consumers spending and habits
The fragmented market of mobile services, devices and accessories
Quality of delivery often gets squeezed by Content and Service priorities
Non concrete and standardized mobile IPTV business models
Usability of services, content and applications still an issue
Standards issues still not fully addressed
Limited access to investment funds for such innovative services
OPPORTUNITIES
New business models will drive growth in mobile communication and IPTV markets
Investments to new innovative services (eg mobile IPTV)
Open market for new entries and players willing to use edge tech
Mobile multimedia content (Live, VoD) becomes a demand from consumers
Technology/industry/quality push in place
More sophisticated mobile devices enabling content playing
Diversification opportunity for device manufacturers
Standardization activities and security issues are promoted
Mobile entertainment features are becoming the future of communications
Facilitating customers access to content
Consumption of content is growing
THREATS
New business roles and models may restrict some actors or affect existing market dynamics
Content owners (records / media firms) are skeptical in adopting new business models
Abuse of service and content
Security and protection issues are slowing market exploitation
Consumers’ actual needs which narrow down the type/variety of the content actually demanded (eg high interest only for live sport events, news) drives down operators’ interest for further investment in such technologies
High dependence on mobile operators’ services/technology/ infrastructure and features of mobile devices
Universal Service is still not a reality for a majority of consumers

16. ADAMANTIUM on Mobile IPTV SWOT
Adamantium add-ons to STRENGTHS
Existing mobile IPTV business models add quality aspects in their value chain and offered service becoming QoS and PQoS aware
QoS and PQoS aware mobile IPTV service helps mobile operators to achieve economies of scale
Higher consumer satisfaction as a result of improved QoS
Optimized quality of experience and service
More marketers, retailers and publishers are recognizing need for mobile presence and more sophisticated mobile devices
Promoting the increase in sales of mobile devices with IPTV enabled features
Improving financial ratios like ROI for mobile operators
Enhanced personal viewing experience
Adamantium improvements to WEAKNESSES
Major issues of QoS for mobile IPTV are overcome
Improved QoS form a new basis for Mobile multimedia marketing
Improved mobile IPTV services offered by more operators will increase demand for IPTV-enabled mobile devices leading the high cost of these devices to fall
Mobile IPTV service demand increases and existing business models are becoming more concrete and standardized
Adamantium add-ons to OPPORTUNITIES
New rich content along with QoS will increase consumer’s trust-satisfaction their mobile operators
Improved entertainment methods lead to new business models and revenues
Mobile operators become interested in offering quality improved mobile IPTV services leading to investment increases
New revenue opportunities and greater choice of service based on quality
Increased customer recognition of value
Flexibility of pricing packages leads to increased competition which is in favor to the end consumer
Improved financial indicators/ratios will lead to more investment initiatives
Reliability and QoS standards are set
New potential for mobile marketing and advertising with high and reliable QoS
ADAMANTIUM improvements to THREATS
Increase in consumers trust related to quality and reliability of IPTV service over mobile will raise demand for such services and the need for convergence of services, technology, infrastructure and products among mobile operators, content providers and mobile devices manufactures will be achieved
Established mobile operators will view Mobile IPTV as an opportunity to invest and satisfy market demand for a new, reliable and lower cost type of multimedia entertainment while user being on move
Improved standards and services will create a consistent base for experience of service and quality across different mobile operators.

17. ADAMANTIUM BM Evaluation
Evaluation of proposed Business Model
STOF framework with four domains
Service
Technology
Organizational
Financial
Each domain
Interacts with others
Is affected by external factors
market dynamics,
technological advancements,
regulatory framework

18. STOF Analysis
Analysis of ADAMANTIUM Business Model based on STOF model and dynamics
Externally (influences by external forces)
Internally (four domains analysis)
Spotting profitable parameters in each internal domain under positive external conditions, then the evaluation is proved to be successful, since all the parties will benefit from the specific business model

19. STOF: External Analysis
Technological drivers for ADAMANTIUM VoIP and IPTV
Innovative mobile communication advances and technologically enhanced mobile devices (Positive)
An optimization in network resources allocation. (Positive)
An increased ability to process user feedback via ADAMANTIUM developed. (Positive)
Market-related drivers and conditions
Growing usage of mobile services (Positive)
Growing market demand for mobile VoIP and IPTV (Positive)
Convergence of voice, internet, mobile services, information and TV industry leads to lower prices and joint-ventures, reassuring viability of various players (Positive)
Regulatory conditions
Regulatory climate in telecom sector has changed. Distinctive regulations between different services platforms are gradually being removed, helping the creation of synergies. (Positive)

20. STOF: Internal Analysis
Service Domain
Many mobile operators position VoIP & IPTV as services to be highly profitable in next years
Mobile operators expect to take advantage of their expertise and of consumer loyalty in mobile market
Bundling these services with other already widely used mobile services
Portfolio focusing on exclusivity or on a wide range of niche markets
Offering more value added services with higher QoS as proposed by ADAMANTIUM
Technology Domain
ADAMANTIUM results provide necessary supporting technological aspects for the success of the new PQoS-aware services
IMS signaling and registration capabilities

21. STOF: Internal Analysis
Organization Domain
Key actors in the value network chain of mobile VoIP and IPTV services are considered
telecom/mobile operators
content providers
telecom equipment
middleware providers
Advertisers
consumers
Each player can identify profitable actions within the proposed ADAMANTIUM business model
Financial Domain
See next slides

22. Financial Analysis Assumptions Initial cost of investment: 200 K€
Charge of VoIP/IPTV mobile services on duration of usage (not per data volume)
Well established operator (Greek Mobile Operator, GMO)
IMS and VoIP and IPTV Services infrastructure available
Mobile subscribers with enabled 3G+ services taken into account for financial analysis
ADAMANTIUM functionality will be considered as a feature that is included in the already installed policy node of the mobile operator
Initial cost of investment: 200 K€
License: 50 K€ (CAPEX)
Integration and training services: 150 K€ (CAPEX)
Hardware: 0 € (feature included in existing policy node)

23. Financial Figures Financial figures of Greek Data Mobile Market 2007
2008
2009
2010
2011
2012
2013
Data Revenues (M€) in Greek Mobile Operators 48
116
198
319
431
545
625
GMO Data Revenue Share
45%
GMO Data Revenue (M€)
21,6
52,2
89,1
143,6
194
245,3
281,3
GMO IPTV and VoIp Services Revenue Share
20% (3)
GMO IPTV and VoIp Services Revenue (M€)
4,3
10,4
17,8
28,7
38,8
49,1
56,3

24. Analysis of different cases
Two cases of different strategies dealing with aspects of ADAMANTIUM to be offered by the mobile operator
Case 1
Offered to all the VoIP and IPTV service users
Without any extra cost
Combined with the already existing subscription packages for 3G+ services
Case 2
Offered as a new separate package (premium package of ADAMANTIUM VoIP and IPTV services)
Following a different pricing strategy compared to the normal packages of VoIP and IPTV services
Financial efficiency (revenues and profitability) of these cases are evaluated in three scenarios
Optimistic / Normal / Pessimistic

25. Case 1. Optimistic Scenario
4 Year period Y1 Y2 Y3 Y4
Initial Investment Cost (CAPEX)
200,000 € -
Marketing/ Promotion Cost
100,000 €
90,000 €
80,000 €
70,000 €
Maintenance Cost (OPEX)
25,000 €
15,000 €
ADAMANTIUM DEVELOPMENT TOTAL COST
325,000 €
105,000 €
95,000 €
85,000 €
Forecasted Average Annual Revenue (Optimistic)
28,710,000 €
38,790,000 €
49,050,000 €
56,250,000 €
Annual ADAMANTIUM Revenues additional Increase in %
0.5 % 1%
1.5% 2%
Annual ADAMANTIUM additional Revenues (in Euro)
143,550 €
387,900 €
735,750 €
1,125,000€
Annual ADAMANTIUM Outflows
Annual ADAMANTIUM Inflows
1,125,000 €
Annual ADAMANTIUM CASH FLOW
-181,450 €
282,900 €
640,750 €
1,040,000 €
Cumulative Annual Cash Flows
101,450 €
742,200 €
1,782,200 €
NPV= 1,119, €
IRR= 90%
Pay Back Time = 1.64 Years
Very promising and
Profitable investment

26. ADAMANTIUM investment
Case 1. Normal Scenario
4 Year period Y1 Y2 Y3 Y4
Initial Investment Cost (CAPEX)
200,000 € -
Marketing/ Promotion Cost
100,000 €
90,000 €
80,000 €
70,000 €
Maintenance Cost (OPEX)
25,000 €
15,000 €
ADAMANTIUM DEVELOPMENT TOTAL COST
325,000 €
105,000 €
95,000 €
85,000 €
Forecasted Average Annual Revenue (Normal)
28,710,000 €
32,500,000 €
37,500,000 €
42,480,000 €
Annual ADAMANTIUM Revenues additional Increase in %
0.5 %
0.5%
1.0%
Annual ADAMANTIUM additional Revenues (in Euro)
143,550 €
162,500 €
375,000 €
428,800€
Annual ADAMANTIUM Outflows
Annual ADAMANTIUM Inflows
162,500 €
375,000 €
424,800 €
Annual ADAMANTIUM CASH FLOW
-181,450 €
57,500 €
280,000 €
339,800 €
Cumulative Annual Cash Flows
-123,950 €
156,050 €
495,850 €
NPV= 268, €
IRR= 40%
Pay Back Time = 2.44 Years
Attractiveness of
ADAMANTIUM investment

27. Case 1. Pessimistic Scenario
4 Year period
5th year Y1 Y2 Y3 Y4 Y5
Initial Investment Cost (CAPEX)
200,000 € -
Marketing/ Promotion Cost
100,000 €
90,000 €
80,000 €
70,000 €
50,000 €
Maintenance Cost (OPEX)
25,000 €
15,000 €
ADAMANTIUM DEVELOP. TOTAL COST
325,000 €
105,000 €
95,000 €
85,000 €
65,000 €
Forecasted Average Annual Revenue (Pessimistic)
28,710 K€
Annual ADAMANTIUM Revenues additional Increase in %
0,5 %
Annual ADAMANTIUM additional Revenues (in Euro) €
Annual ADAMANTIUM Outflows
Annual ADAMANTIUM Inflows
143,550 €
Annual ADAM. CASH FLOW
-181,450 €
38,000 €
48,550 €
58,550 €
78,550 €
Cumulative Annual Cash Flows
-143,450 €
-94,900 €
-36,350 €
42,200 €
For the 4-year period
NPV= -78, €
IRR= - 5%
Pay Back Time = on 5th Y
For the 5-year period
NPV= -34, €
IRR= 5%
Pay Back Time = 4.46 Y
Investment attractive in a
5-year period even under
most pessimistic conditions

28. Case 2. Optimistic Scenario
4 Year period Y1 Y2 Y3 Y4
Initial Investment Cost (CAPEX)
200,000 € -
Marketing/ Promotion Cost
100,000 €
90,000 €
80,000 €
70,000 €
Maintenance Cost (OPEX)
25,000 €
15,000 €
ADAMANTIUM DEVELOPMENT TOTAL COST
325,000 €
105,000 €
95,000 €
85,000 €
Forecasted Annual ADAMANTIUM Revenues (in Euro) from the Premium package
150,000 €
250,000 €
450,000 €
700,000 €
Annual ADAMANTIUM Outflows
Annual ADAMANTIUM Inflows
Annual ADAMANTIUM CASH FLOW
-175,000 €
145,000 €
355,000 €
615,000 €
Cumulative Annual Cash Flows
-30,000 €
940,000 €
NPV= 561, €
IRR= 61%
Pay Back Time = 2.08 Years
Attractiveness of
ADAMANTIUM investment

29. ADAMANTIUM investment
Case 2. Normal Scenario
4 Year period Y1 Y2 Y3 Y4
Initial Investment Cost (CAPEX)
200,000 € -
Marketing/ Promotion Cost
100,000 €
90,000 €
80,000 €
70,000 €
Maintenance Cost (OPEX)
25,000 €
15,000 €
ADAMANTIUM DEVELOPMENT TOTAL COST
325,000 €
105,000 €
95,000 €
85,000 €
Forecasted Annual ADAMANTIUM Revenues (in Euro) from the Premium package
150,000 €
250,000 €
400,000 €
Annual ADAMANTIUM Outflows
Annual ADAMANTIUM Inflows
150,000 €
250,000 €
400,000 €
Annual ADAMANTIUM CASH FLOW
-225,000 €
45,000 €
155,000 €
315,000 €
Cumulative Annual Cash Flows
-180,000 €
-25,000 €
290,000 €
NPV= 122, €
IRR= 24%
Pay Back Time = 3.07 Years
Attractiveness of
ADAMANTIUM investment

30. Case 2. Pessimistic Scenario
4 Year period
5th year Y1 Y2 Y3 Y4 Y5
Initial Investment Cost (CAPEX)
200,000 € -
Marketing/ Promotion Cost
100,000 €
90,000 €
80,000 €
70,000 €
50,000 €
Maintenance Cost (OPEX)
25,000 €
15,000 €
ADAMANTIUM DEVELOP. TOTAL COST
325,000 €
105,000 €
95,000 €
85,000 €
65,000 €
Forecasted Annual ADAMANTIUM Revenues (in Euro) from the Premium package (Pessimistic)
150,000 €
250,000 €
300,000 €
Annual ADAMANTIUM Outflows
Annual ADAMANTIUM Inflows
Annual ADAM. CASH FLOW
-275,000 €
-5,000 €
55,000 €
165,000 €
235,000 €
Cumulative Annual Cash Flows
-280,000 €
-225,000 €
-60,000 €
175,000 €
For the 4-year period
NPV= -117, €
IRR= - 6%
Pay Back Time = on 5th Y
For the 5-year period
NPV= 14, €
IRR= 11%
Pay Back Time = 4.26 Y
Investment attractive in a
5-year period even under
most pessimistic conditions

31. Exploitation Plans Rohde & Schwarz (RS) Expected results
New functionalities of the DVM protocol analyzer platform
Extended SNMP MIB containing all parameters related to qPSNR measurement procedure including setting of independent thresholds for the qPSNR-over-time measurement and for qPSNR histogram
New software module that allows a detailed analysis of received IPTV-over- DVB-H services
Alarm Filter for user-defined combination of QoS parameters to monitor the related thresholds
Expected results
Enhancement of usability of DVM protocol analyzer family (and future successors)
Estimated additional sales of 4 to 7 M€
Dependent on date of introduction of mobile IPTV services in major European countries and the US

32. Exploitation Plans Thomson Grass Valley/Thomson Telecom (TGV and TT)
Enhance of the PQoS of IPTV service is a key issue for Thomson Grass Valley
Acquired knowledge and know-how to improve IPTV and MRF servers by interfacing them to the future new IMS components (MCMS) in charge of PQoS
Positioning: Improve Thomson IPTV solution, used by telecom operators to improve IPTV QoS offer
Vodafone (VOD)
Actual adoption depends on vendors’ technology roadmap
Interested in offering optimized services and addressing the challenge of enhancing user perception, especially in the view of network evolution towards LTE
Exploitation of possibilities offered by the MCMS could be adapted according to specific user categories/profiles and offered subscription packages

33. Exploitation Plans Ericsson (ERC)
Need related to provide adequate PQoS in VoIP and IPTV services in order to
Retain customers and increase number of users
Add value to already offered services
Ericsson portfolio include the SAPC (Service-Aware Policy Controller)
A telecom grade policy manager, based on 3GPP standards
Full interoperability with GGSNs, Packet Inspection or Application Functions (AF)
Part of the Service Aware Charging & Control solution
ADAMANTIUM results would be integrated with the SAPC module
Exploitation activities planned
Project presentations to Packet Core Units, SAPC and GGSN Product Lines, working on activities related to QoS and Packet core
Study, analyze and define a Business Solution based on the ADAMANTIUM result
Explain customers how ADAMANTIUM can be integrated in Ericsson solutions

34. Exploitation Plans Viotech (VIO)
ADAMANTIUM streaming technology represents an important asset to VIOTECH’s exploitation strategy
The V-HOME product range
End-Users to access audio-visual content from different terminals (PCs, TV sets, etc.)
Commercialized through Triple-Play or genuine operators, and directly to End-Users
ADAMANTIUM results can enhance the IPTV solution capabilities through a dynamic adaptation of multimedia content
The resulting Exploitation Plan will be brought forward
Packaging of configured offers: V-HOME with Multi-Play functionalities for services provision within home platform, and the V-HOME Away solution for both residential and moving platforms, with dedicated market pricing strategies
Targeted communication and promotion campaigns to foster buzz and notoriety throughout 2011 and 2012
Manufacturing in hardware series, primarily in commercial territories without major Triple-Play-similar offerings

35. Overall Conclusions The document includes for VoIP and IPTV services
Market description and foreseen evolution
Business idea and business models
Possible business models
SWOT and STOF analysis
“Delivering value is vital for success”: End users of converged digital services will only use, and pay for services which they perceive deliver value to them
Business and market analysis pinpointed different future possibilities and market conditions for market and business exploitation of ADAMANTIUM results
Two cases have been analyzed
In the optimistic and normal cases in both of them, investments for ADAMANTIUM are attractive in a 4-year period
In the pessimistic scenario, investments are attractive in a 5-year period

36. Thank you very much!