Cisco Systems, Incorporated (NASDAQ GS:CSCO) 170 West Tasman Drive San Jose, CA 95134 Phone: (408) 526-4000 Fax: (408) 526-4100 http://www.cisco.com
Cisco Systems sells networking and communications products and provides related services. The company's two main products are switches and routers (devices that manage network traffic within local-area networks and between different networks), but Cisco essentially touches everything in the networking industry, from security to storage to application switching. Cisco dominates the data networking industry, and its Ethernet switches, which move data along local computer networks, are ubiquitous in business information technology. Cisco's share of the $21 billion switch market has remained near 70% in each of the past five years, while closest rival Hewlett-Packard languishes at 5% share. The firm's routers, used by telecom and cable service providers to move data across long distances, are also the market favorite. Cisco and Juniper Networks enjoy a virtual duopoly, with Cisco the clear leader. Cisco has also used its dominance in corporate data networking to successfully move into adjacent and new markets, including network security, video conferencing, and home networking. Cisco enters new markets typically through acquisitions and uses its global salesforce and broad distribution channel to quickly gain share. The firm integrates technology into its switches when feasible and aggressively bundles when not, making it extremely difficult for smaller firms to compete. Collectively, these newer products account for roughly 25% of Cisco's $40 billion in annual revenue and have grown 34% on average during the past three years.
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