Connectivity giant Cisco Systems (CSCO) on Monday announced the roll-out of hardware for the next generation of Wi-Fi technology.
This will bring about a total upgrade to the company’s $28-billion infrastructure business, while aiming at a robust improvement in software revenue.
After announcing new access points and switches for businesses for Wi-Fi 6—the new standard expected to roll out by 2022—Cisco has surely taken point on the transition.
The new network standards are expected to aid consumers due to their deeper ties with the 5G wireless networks—that will arrive around the same time. For eg, a hotel guest’s phone could handover from 5G to the hotel’s Wi-Fi network after the check-in process without having to enter the credentials.
Back in February, the Cisco stock soared to an 18-year high of $51.49, and the stock has been on a massive run ever since, inclyding trading as high as $56 today.
In the previously reported second quarter, the company’s results swung to a profit from a loss last year. Adjusted earnings soared by 16% helped by its continued momentum across the business..
With the company expecting global Internet traffic to increase threefold over the next five years, Cisco’s move to drive the industry’s transition to next-generation high-speed networks seems to be a smart one
The rise in products and services drove revenues higher. Despite the complex macro geopolitical environment, Cisco has seen a steady demand throughout the second quarter.