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The shares of Cisco Systems and other network equipment manufacturers failed after a report that Amazon is considering selling its own switches.
(Reuters) –
The shares of Cisco Systems Inc. and other network equipment manufacturers fell on Friday after a report indicates that cloud computing services are being sold. Amazon are planning to sell their own switches or witches to business customers at much lower prices.
Cisco shares fell 4.3%, wiping out nearly $ 10 billion of their market value. Juniper Networks Inc. and Arista Networks Inc. fell 2.4% and 4.6% respectively.
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The report arrives a few days after Amazon will upset the pharmaceutical distribution business by deciding to go ahead. buy the little online pharmacy PillPack.
The devices will consist of open source software and unbranded hardware known as the generic switch or box and will have connections to Amazon Web Services (AWS) cloud services, such as servers and storage, The Information said in his report.
AWS could put a price on these switches 70% to 80% less than the comparable Cisco, the report says, citing a person with direct knowledge of the plans.
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AWS projects launch switches for sale in the next 18 months, according to the report.
Amazon and Juniper have not had any representatives available to comment. Cisco and Arista declined the request for comment.
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