Will videoconferencing replace the telephone?

"In the past few years, the cost and convenience of video calling have made big advances. Smartphones, tablets and PCs fulfill the promise of the Picturephone with widely available hardware and software, while in higher price brackets, the experience is more immersive than ever. But even though making phone calls with video is now nearly as practical as doing so without, it's unlikely that the purported phone of the future will ever be the everyday phone of the present." IDG News Service

Will videoconferencing replace the telephone?.