Wednesday, September 29, 2004
Setting his eyes on China market, John Chambers, president and CEO of Cisco Systems, Inc., has expressed its intent to open a research and development center including US$32 million over the next five years in Shanghai, China. This will be the first Cisco research center in China, although it has invested heavily through the years in Chinese startup companies.
It has already spent $250 million in direct and indirect investments in Chinese startups. Daniel Scheinman, senior vice president of corporate development for Cisco, noted that China's consumers rapidly adopt advanced technologies, and so the country is a breeding ground for new communications applications. "By being closer to potential customers, it will help our engineers understand their requirements and react more quickly to their needs," Scheinman said.
Cisco will hire 100 employees over the next 18 months in the Shanghai facility, which will focus on Voice over Internet Protocol (VoIP) technologies and other new features for telecommunications equipment, particularly for Chinese telephone carriers. Beside the China¡¯a market, the Shanghai research and development center will supplement the company's ability to tailor its products and be more responsive to the changing customer demands of service providers in Asia and around the world. The R&D center will open in the third quarter of 2005.
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