Manila, 22nd November 1999, (Manila Bulletin)-CISCO Systems, Inc., the worldwide leader in networking for the Internet, highlighted the performance of its business in the Asia Pacific region during the first quarter of its fiscal year. For the first fiscal quarter that ended on October 30, 1999 Cisco's business in the Asia Pacific region grew at 60 percent over the same quarter the previous year. For the quarter, the region also increased its share of Cisco's worldwide revenue to approximately 8 percent from 7 percent, and grew faster than any other region of the world.
"We are extremely pleased with the performance of our business in the Asia Pacific region for the first quarter," said the Senior Vice President of (Cisco's) Asia Pacific Theatre, Richard Freemantle. "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."
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. The region has now become the fastest growth area for the company worldwide.
Said Freemantle, "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."
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.