It’s no secret that this is a challenging time for the telecommunications industry. Many companies have announced layoffs this year, and their struggles to grow profits are apparent in their quarterly earnings statements.

In the meantime, M&A speculation escalates among various players, such as Sprint and T-Mobile. All eyes are on CenturyLink and Level 3 Communications to see how their merger proceeds once it gains approval from the Federal Communications Commission; and the next chapter for Avaya when it emerges from chapter 11 bankruptcy.

Where does all this leave partners?

In this gallery, Rich Karpinski, 451 Research’s principal analyst of mobile operator strategies; Brent Iadarola, Frost & Sullivan mobile and wireless communications vice president; and Michael Finneran, industry analyst and Channel Partners contributor, sort through the issues and look at what’s ahead.

Follow contributing editor @EdwardGately on Twitter.