Sales in the core business of Swisscom are under pressure from intense competition. New offerings in the areas of digitalisation and IT services, such as cloud and IT security solutions, are intended to compensate at least in part for sagging revenue from the core business. Market developments result in changes to the business model and demand both a profound transformation of Swisscom’s own company, as well as greater efficiency. Some of the key risk factors are described below. Further information on risks can be found in the report on non-financial matters.