Cisco Systems company destroyed equipment and goods worth $24.4 million after leaving Russia. The US giant did this because it no longer intends to return to this market.
The company announced in March 2022 that it would no longer sell products and services in Russia. Three months later, Cisco announced its exit from the market. The company also left Belarus.
The American giant decided to leave nothing behind. In January 2023 it destroyed network equipment, spare parts and even furniture it had in its offices. At the end of last year, Cisco had just five employees left in Russia, 12 times fewer than a year ago.
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Although no longer present in this market, the company’s products are still imported into the Russian Federation through unofficial channels. According to documents obtained from Russian customs, 500 shipments of Cisco equipment were made in August 2022 alone, from countries including China, Vietnam, Switzerland, Mexico, Australia, Thailand, the Netherlands and even the US.
Cisco Systems was the largest player in the global networking infrastructure market last year, with a 41% market share, according to Statista. In second place was Huawei, with a 10% market share.
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