The future of telecom

I inquired the top of KOSPI(South Korea's stock market) unexpectedly in aspect of aggregate value of listed stock today.

SKT(ranked 20) and KT(ranked 29) were included in the top 30, 6-May. 2011.
It seems fine in some way at first glance. 

However, SKT came down 2 steps(18->20) and KT was dropped as many as 10 steps(19->29) compared to Nov. 2010.

<Top 30 of KOSPI, 6-May, 2011>

In my opinion, It is very serious situation that happened within six months.

Let's look at the stock price trend of SKT and KT.

<Stock price trend of SKT and KT from 1999 to 2011>

They experienced the height in 2000 and fell sharply during 2000~2001. Since then, the recession is on going.
This phenomenon has shown similarly worldwide in telecom industry.

The reason why telecom's stock prices crawl is because they can't show up to market their future growth possibility or momentum.
The market started calling them "dumb pipe" from around the mid-2000s but they still have yet to find a breakthrough.

Moreover, The biggest problem is prevalent evaluation to carriers from the market .

"They can not do this like Google or Apple.", "Low possibility to find a breakthrough."....
This is general and rampant evaluation.

"What should carriers do?"
This is a big question and the stock price will move in advance if they can do it.