You might work for a company that has offices all over the country or all over the world. Instead of flying 25 people in for a meeting, they just use a speakerphone and dial in to a special number that puts all the speakerphones on the same line so they can all talk or listen at the same time no matter where they are in the world. That's all it is.
Videoconferencing is often considered a type of teleconferencing. However, teleconferencing is usually used to refer to audio conferencing. In this case, the main difference between video conferencing and audio conferencing is that video conferencing includes a video data stream alongside the audio data.
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