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One of the few exceptions to the general downturn will be that extremely useful and novel innovations may go against the trend, especially if they will save money for the customer.
But sometimes good ideas take a while to catch on. Amazon was a good idea that lost enormous amounts of money for the first several years. It isn't enough that it is good, people have to get used to the idea or get sold on it.
There is also the danger in this area that somebody else will come up with a similar version of the same thing with an advantage. The underlying concept requires technology that is readily available but using it differently. There are lots of video conferencing type tools out there including for PC software, the basic idea is public domain.
So if you've really done your homework Polycom might be an ok gamble, with the caveat that it will be easy for a competitor to erase any competitive advantage and that in the present market contagious selling may cause even strong stocks to go down.
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