Tech Industry

Cisco Systems to target consumer market

Communications equipment maker plans to sell phones, radios and home theater equipment, according to a published report.

Cisco Systems plans to expand its share of the consumer electronics market by selling phones, radios and home theater equipment, the Financial Times reported on Monday.

The communications equipment maker believes it can take a slice of a new market for devices that link to the Internet, the newspaper said.

"Consumer electronics companies have been able to compete on a stand-alone device, but the dynamics of the market are changing," Cisco's Chief Development Officer, Charles Giancarlo, said in an interview with the paper.

"The Internet and new networking requirements are enough of a disruptor for us to enter a new market," he said.

Cisco, which makes much of its revenue from selling the devices that direct Internet data, is expanding its reach into several newer businesses as it seeks to grow its stock price and reinvigorate its revenue growth.

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