Cisco sees strong growth in Asia Pacific Internet market

BANGALORE: Cisco Systems, Inc. has reported 60 per cent rise in revenues during the first fiscal quarter that ended on October 30, 1999 in the Asia Pacific region over the same quarter the previous year. According to a company release, for the quarter, the region also increased its share of Cisco’s worldwide revenue to approximately 8 per cent from 7 per cent, and grew faster than any other region of the world.

Cisco’s Asia Pacific region includes Australia, China, Hong Kong, India, Indonesia, Korea, Malaysia, New Zealand, the Philippines, Singapore, Taiwan, Thailand and Vietnam and excludes Japan. Over eighteen months ago, Cisco Systems initiated a multi-million dollar investment and expansion plan in the Asia Pacific region. The company increased customer service and support facilities, established research and development facilities, expanded employment and increased training for customers and sales partners.

"We are extremely pleased with the performance of our business in the Asia Pacific region for the first quarter," said Richard Freemantle, Senior Vice President, Asia Pacific Theatre. "We continue to see healthy investment in Internet and networking technologies by governments, large corporations, service providers and medium to small sized businesses. Internet usage continues to climb at an impressive rate and many countries in the region are well into the recovery process after the Asian economic crisis."

Mr Freemantle said, "Because of improving economic conditions, the number of companies in the Asia Pacific region that are harnessing the power of the Internet is growing exponentially. Business to Business e-commerce, increased Internet connectivity, Internet based supply chain management, and Internet Protocol telecommunications are leading to increased profitability and efficiency of organizations large and small in the region. "Telecommunications carriers and Internet Service Providers (ISPs) are also experiencing tremendous growth in Internet traffic and increased deregulation; this is also fueling the strong competition and growth in the Internet sector in the Asia Pacific region."