Sees opportunities in service provider, enterprise despite weakened economy
Cisco is seeing no slowdown in European sales despite the continent’s economic troubles. The problems range from Greece’s inability to pay its debts to the ripple effect of currency instability throughout the European Union.
But investment firm UBS, which says it talked recently with Cisco President of European Markets Chris Dedicoat, states that all is well with Cisco in Europe. Good thing too, because Europe comprises 22% of Cisco’s total revenues, with high risk countries accounting for about 4%, according to UBS.
Of this, 55% to 60% is enterprise/public sector, while service provider is 26%, according to UBS. The remainder is commercial and consumer sales. European customers may be operating with fixed budgets thought, which could dent US pricing vs. the Euro. But the weakened currency may also be favorable for Cisco’s European operating expenses, UBS reports.
But the need to invest in productivity tools continues despite the budgetary pressures and strained economy, which has Cisco optimistic about European opportunities in service provider and enterprise/data center segments, according to UBS.
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