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Cisco Pulls the Plug on Smart Cities Business
Cisco has reportedly decided to pull the plug on its plans to build a business around smart cities.
Smart cities are considered the future of urban planning, using sensors, Internet of Things (IoT) devices and other electronics to improve the city’s functioning. Everything from utilities to hospitals to policing to medical care to IT services to traffic and transportation can be greatly improved and made more efficient.
Cisco had bet heavily on the technology, centering its efforts around its Cisco Kinetic for Cities software. According to The Wall Street Journal, however, the company is now abandoning its efforts.
“We recently decided to stop sales and eventually support for the Cisco Kinetic for City product line to align our product investment to evolving market needs and customer requirements,” a company spokesman told The Wall Street Journal.
Cisco has been working for some time to transition into software and services, relying less on hardware. Its latest earnings report showed the strategy is beginning to pay off, especially during the pandemic. Nonetheless, it appears the smart city business presented too many challenges for continued investment.
Cisco Pulls the Plug on Smart Cities Business
Matt Milano
from WebProNews https://ift.tt/2Jufqxn
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