思科：步入中年，怡然自得

    交换机和路由器是互联网的基石，作为这类设备的供应商，思科系统公司（Cisco Systems）在搭建互联网方面发挥了至关重要的作用。随着互联网的发展，思科已步入中年，而其标志性产品也已日趋同质化。为了抵御竞争对手，思科正努力寻找新的增长点。

    如今，互联网的网络结构在很大程度上复杂了很多。交换机和路由器这类核心网络设备曾是思科公司的主业，而如今它们大都已沦为大路货，而一些更复杂的任务——控制动态数据流量则由运行在硬件之上的软件管理着。因此，随着瞻博（Juniper）等公司加入竞争，思科在网络设备市场的份额不断下降。2011年4月，思科首席执行官约翰·钱伯斯在致全球员工的备忘录中承认思科缺乏重点。钱伯斯坦承：“人们都说面对扩张，思科需要更加自律。我赞同这种说法。”

    虽然思科已经成功进入高端网络设备市场，但它在这个领域的表现日渐低迷：路由器和交换机业务贡献了思科62%的营收，但最近的一个季度，这项业务的营收同比下滑了2%。不过，在其它领域，思科的表现仍然可圈可点：视频服务营收上涨了30%，无线及数据中心的营收则分别上涨了38%和61%。但这三大业务合计只贡献了思科22%的营收。

    思科最初的举动是曲线救国，分头挺进多个以个人用户为导向的网络技术领域。早在几年前，思科就开始销售机顶盒、Linksys系列家用WiFi路由器和Flip摄像机。然而，事实证明，这项举措并不明智，而思科也随后出售了机顶盒业务。随着智能手机摄像头的日益普及，Flip业务也被迫关门大吉。

    最近，思科展示了更具野心的目标——从世界一流的互联网通信公司转型为一流的IT公司。首席执行官约翰·钱伯斯在本月的营收电话会议上表示：“最重要的是，我们在向IT领域进军。成为IT霸主是我们最为重要和梦寐以求的目标。时间会证明我们能否实现这个目标，但我们对目前总体市场状况感到满意。”

    As a purveyor of switches and routers that form the Web's backbone, Cisco Systems is responsible for building the Internet. Perhaps more so than any other company. But as the Internet evolves, Cisco has entered a kind of middle age, struggling to find new areas of growth as it fends off competitors in a market where its signature products have become commoditized.

    The Internet's networking structure has largely become much more sophisticated. The core networking gear of switches and routers that was Cisco's (CSCO) bread and butter for years has largely become a commodity, while some of the more complex tasks of controlling the dynamic flow of data is managed by software running on top of the hardware. As a result, Cisco has lost some of its share of the networking-gear market as companies like Juniper have offered more competition. In an April 2011 memo to Cisco staff, Chambers acknowledged the lack of focus. Chambers said candidly, "Many say that in the face of this expansion, Cisco needs more discipline. I agree."

    Cisco has pushed into higher-end networking equipment, but its overall business in these areas is declining: Both switches and routers, which make up 62% of the company's total revenue, declined 2% in the most recent quarter from the year-ago period. Other areas Cisco has moved into, in contrast, are doing much better: Service video is up 30%, wireless revenue is up 38% and data center revenue is up 61%. Together, these three segments account for only 22% of Cisco's total revenue.

    Cisco's initial response was to make a detour into more consumer-oriented networking technologies. Several years ago, began selling set-top boxes, Linksys home WiFi routers and theFlip video camera. That detour proved largely ill-advised, and Cisco sold off its set-top boxes and folded up its Flip business as smartphone cameras proved increasingly popular.

    More recently, Cisco has embarked on an even more aggressive goal -- transitioning from the top Internet communications company in the world to becoming the top IT company in the world. "Bottomline, we're starting to become an IT player," CEO John Chambers said in Cisco's earnings conference call this month. "It's an important aspirational goal for us to become the number one IT player. Time will tell if we can do that or not, but we like what we're seeing in the market overall."