Cisco Systems Inc (NASDAQ:CSCO)’s New Product A Flop?
Last week, Cisco Systems, Inc (NASDAQ:CSCO) unveiled the Network Convergence System family of network platforms. This will be the foundation of its “The Internet of Everything” vision. In this, the network will support smart resource provisioning and cloud computing through Software Defined Networking and other optical transport functions that have been structured into the routers on the network and provide Optical/IP convergence.
The company says that the network of the future must have the capacity to accommodate trillions of events that will be driven by programmable devices. And networks will have to scale in capacity and be able to manage program responses and policies.
This new family of network platforms has been designed to meet the requirements of better functions and internet capabilities. The NCS project has cost the company a hefty $250M over the past 3 years. A week ago, it also launched the nPower X1, a new network processor and the NCS will operate on this new innovation. Cisco Systems, Inc (NASDAQ:CSCO)’s Carrier Routing System will be supported by the NCS and will work in conjunction with the ASR 9000 routers that sit within its networks.
In Friday’s trading session, Cisco Systems, Inc (NASDAQ:CSCO) stock dipped 1.85%. The shares opened at a price of $23.35 which climbed to an intraday high of $23.55 and dropped to a close of $23.33. Approximately 82.46million shares were traded on Friday and the average volume of shares traded over 30 days was 33.33 million. The company has a market capitalization of $125.73 billion.
Cisco Systems, Inc (NASDAQ:CSCO) is involved in designing, manufacturing and selling Internet protocol -based networking as well as other products that are related to the IT and communications industry. It also provides services that are associated with all these products. The company provides a range of products that are used in voice, data and video transportation.