Institutional investors have heard the story that unified communications is under-penetrated, and that soon most businesses will want to buy Plantronics’ headsets that incorporate software compatible with Microsoft’s Skype for Business cloud-based platform for office workers. Why has penetration stalled at a fraction of where consultants thought it would have been already? This stock research podcast provides equity analysis of Plantronics, and discusses why the penetration rate of unified communications might leap higher at some point in the next few years. The competitive position of Plantronics and GN Store Nord / GN Netcom is explored fully. There are high barriers to entry, for there are over 3 million lines of encrypted code in headsets. These two players are duopolistic competitors, and they are both intensely focused upon returning cash to shareholders rather than destroying shareholder wealth.