Synopsis
Most international telecommunications is carried by submarine cable. Until about 2001, the number of these cables was growing very quickly, generating surplus capacity in the expectation of a boom in broadband. In turn, this resulted in falling revenues. The industry downturn in 2001 and the slow worldwide adoption of broadband made the situation much worse, and cable installation almost stopped. Some cable companies failed, and others were bought out at a fraction of their setup cost. In 2004, the industry started to revive and, by 2005, some major systems were again being constructed. This report discusses some of the major submarine systems and industry trends.