Apr, 2002 : Cisco Says Chinese Demand Of Products Will Grow
📅 - Cisco Systems Inc., a network provider, today announced to the Dow Jones Newswires that the demand for its networking equipment products is still strong in China.
Supplying equipment to Industrial & Commercial Bank Cisco will enable the bank to build a nationwide Internet network to link 30, 000 of its local savings offices. The company sold roughly $1 billion worth of its products in China in 2001, a significant percentage of its $19.3 billion in annual revenue.
In an effort to improve competition, the Chinese government decided late last year to split up the former monopoly China Telecommunications Group. That split is still being carried out, which some vendors say has delayed equipment purchases.
Spending on information technology equipment and upgrades, Chinese companies aren?t undergoing the same slowdown seen in the U.S., Jia-Bin Duh, president of Cisco Systems China noted. Automating customs?, taxation and social welfare systems, the government will also provide enormous opportunities for suppliers of networking equipment.
?We believe there will be new backbone networks that are constructed or transformed. Current mobile networks will also start to focus more on data communications,? Duh said to the Dow Jones Newswires.
Supplying equipment to Industrial & Commercial Bank Cisco will enable the bank to build a nationwide Internet network to link 30, 000 of its local savings offices. The company sold roughly $1 billion worth of its products in China in 2001, a significant percentage of its $19.3 billion in annual revenue.
In an effort to improve competition, the Chinese government decided late last year to split up the former monopoly China Telecommunications Group. That split is still being carried out, which some vendors say has delayed equipment purchases.
Spending on information technology equipment and upgrades, Chinese companies aren?t undergoing the same slowdown seen in the U.S., Jia-Bin Duh, president of Cisco Systems China noted. Automating customs?, taxation and social welfare systems, the government will also provide enormous opportunities for suppliers of networking equipment.
?We believe there will be new backbone networks that are constructed or transformed. Current mobile networks will also start to focus more on data communications,? Duh said to the Dow Jones Newswires.
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URL source: http://www.thewhir.com/marketwatch/cis041102.cfm
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