Cisco Systems

July 16, 2010US Companiesby EconomyWatch

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In 2008, Cisco Systems was ranked #90 by Forbes in its global 2000 list of largest public companies. High market value and decent profits generated in 2007 were the primary factors that enabled Cisco Systems to be ranked within top 100 companies in Forbes Global 2000 list.
Cisco Systems’ headquarters is located in San Jose, California. Cisco conducts business operations in countries like Algeria, Australia, Belgium, China, Czech Republic, France, Germany, Japan, Nepal, Poland, Portugal, Slovenia, South Korea, United Arab Emirates, and Vietnam.

Brief history
Cisco was founded in 1984 in San Francisco, California. Founders of Cisco Systems included Len Bosack and Sandy Lerner. Later, Richard Toriano also joined hands with them to take Cisco Systems forward. In 1990, this firm went public with its listing on Nasdaq Stock Exchange.

Products and services
Cisco Systems offers several useful and popular hardware and software products. Popular software products of Cisco Systems include Cisco Fabric Manager, Cisco CallManager, CiscoView, IP SLAs, Cisco NX-OS, Cisco Unified Contact Center, and Wireless Control System. Hardware products offered by this firm include DSL & Long Reach Ethernet, Cisco LocalDirector, Routers, Storage Networking, Switches, and Video. This public company also offers VoIP services to business clients.

Financials
In 2007, Cisco Systems conducted sales worth about $40.317 billion. Profits made by this firm amounted to around $8.048 billion. Total assets held by Cisco Systems were worth nearly $58.887 billion. Total employee count of this firm was about 66,129.

Awards and recognition
In 2008, Cisco was awarded with J.D. Power and Associates Certification for Technology Service and Support Excellence. In same year, Cisco got SSPA STAR Award for Best Embedded Product Support. Association of Support Professionals identified Cisco’s support website as one of “Ten Best Web Support Sites”. In 2008, Cisco Systems also received US EPA Green Power Leadership Award.

Current financial crisis
Global financial crisis had an adverse impact on Cisco. According to media reports, on October 13, 2008, this company announced its plans to cut about 129 jobs in its Richardson, Texas plant. Lay off plan was expected to continue till December, 2008. But Cisco’s problems have enabled competitors like Huawei Technologies to gain solid ground in telecommunication business.


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