Price competition with commodiised products is not a fun place to be.
Lexmark is throwing in the towell on inkjets and will focus on laser printers. This links to the story about HP and Dell struggling to make money on commodity PCs while Apple changes the market and the margins.
Michael Porter’s Five Forces are just as relevant today. If you have intense competition, with plenty of threats from substitute and many competitors you’re margins are on a one-way trip to negative.
The question for me is, should financial services be any different? How different can you really make the products, services and customer experience? Apple has done it where other computer manufacturers can’t see a way, so maybe it is possible in FS.