With heat bearing down on their necks in China from local competitors Huawei and ZTE, Cisco has decided to invest more into their China operations.
The U.S.-based company plans to invest over USD10 billion in China over the next few years to support local innovation with a series of strategic measures.
Cisco made this promise during the China visit of its chairman and current CEO John Chambers and its soon-to-be CEO Chuck Robbins.
The company signed a memorandum of cooperation with China's National Development and Reform Commission. According to the memorandum of cooperation, Cisco will further increase its investments in China and will cooperate with local firms and governments in various sectors, including innovation, investment, research and development, and employment.
In addition, Cisco signed an information technology talent training memorandum of cooperation with the Association of Universities (Colleges) of Applied Science. Based on the existing network technology academy program, Cisco will implement a 4-year cooperation with up to 100 universities and colleges of applied science recommended by AUAS.