The networking industry is heading into a new era that Cisco chairman and CEO John Chambers defines as the second phase of the internet, driven by collaboration and Web 2.0 technologies.
Networking giant Cisco last night reported fourth quarter revenues of US$9.4bn, up 18pc on the previous year. This yielded the company a US$1.9bn profit for the quarter.
“Cisco delivered another record quarter with great execution across the company,” said John Chambers, chairman and CEO, Cisco.
“Again, the performance was based on our balanced approach across products, services, geographies and customer segments and our ability to catch and execute on key market transitions.”
Chambers said that he believes the industry is headed into a new era in networking he calls the second phase of the internet as we know it.
“As we turn our attention to the next fiscal year, we believe that we are headed into a new era in networking that we define as the second phase of the internet.
“We expect that this phase will be driven by collaboration and Web 2.0 technologies and will become an increasingly influential market trend for businesses.
“Collaboration has already transformed almost every area of our business internally, resulting in the potential for dramatic gains in productivity and efficiency.
“We believe this new model will help enable Cisco to identify, target and capture market opportunities more effectively than at any other time in our history,” Chambers said.
Cisco is currently in the process of creating 200 new jobs at an R&D facility in Galway.
By John Kennedy