1. 2. 5  Compatible products and standards

We can define a standard as the set of technical specifications allowing compatibility between the different parts of a system.

As we saw in the preceding sections, the value of a product depends largely on the existence of accepted standards:

  1. When a product is made up of different elements that complement each other.

  2. When the network effects are significant.

In the ICT industry, it is clear that the standardisation of hardware (i.e. the physical devices) has, fortunately, advanced a great deal. Today, virtually any computer peripheral can be connected to a port on a computer (such as a USB port), and when we buy a printer, for example, we know that we need not worry: when we get home, we will be able to connect it to the computer without a problem.

Component obsolescence

Those of us of a certain age will remember that things were quite different some years back. We have all had the experience of purchasing an electronic or computer device or part that has become obsolete simply because we can no longer connect it to the other components that it is supposed to form part of.

And the younger ones among us will understand what we mean if they think about all the chargers we have to lug around (mobile, laptop, etc.) because these devices do not work with the same charger – often even when the products are manufactured by the same manufacturer! If we decide to change our mobile one day, we can unfortunately be sure that we will have to throw away the charger because it will be of no use anymore.