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Cisco chairman and CEO John Chambers painted a gloomy picture of the company’s prospects in Europe, saying that he expects our region ‘to continue to be very challenging over the next several quarters’. Indeed, Cisco’s revenues in EMEA declined by 5% in the FY just closed (to 31st July) against 7% global headline revenue growth to $46.1b. Chambers attributed the poor European performance mainly to weakness in Southern and Central Europe, though product orders in the UK were down 13%.
Cisco’s fortunes ripple all the way down the network product and services supply chain, so UK value added resellers such as Logicalis (see Logicalis still finding UK tough going) will not get much cheer from Chamber’s comments.
