What effect will the financial crisis have on the tech sector?

Expect to see a slowdown in smartphone sales and a concomitant growth in the use of open source, cloud computing and virtualisation technology as consumers cut back on their “discretionary” purchases while businesses, strapped for credit (because banks won’t have it to lend), decide to make the best of what they’ve got and squeeze the last possible drops of life from the hardware they have, while reducing costs on software as far as possible.

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