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What industry has MS not conquered that they have attempted?
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How do you define conquer? Most popular product? 50% market share? 80%?
Here's a few examples where Microsoft hasn't conquered all (yet):
Webserver market vs. Apache
Website design market vs. Adobe Dreamweaver
PIM market vs. Lotus Notes (one I
really wish they would win)
Internet search vs. Google
Media player market vs. iTunes
I think they're still a long way off conquering the console market too (compare the market share they've got now, compared to Sony's first console at about this stage in it's life-cycle). But that's a moot point.
I agree with Felix though. Microsoft will always keep plugging away and plan for the long-term. Eventually the opposition will always screw up.