Business News Americas | Patrick Nixon | December 30, 2010
Video conferencing technology provider Polycom (Nasdaq: PLCM) expects to grow above the market average of 30% in Latin America in 2011, but below the 50% rate the company has seen in 2010 amid an increasingly tough environment, Polycom’s VP for Latin America and the Caribbean, Pierre Rodriguez, told BNamericas.
According to Rodriguez, the company was able to gain several points of market share on its main competitor, Cisco Systems (Nasdaq: CSCO), as that company was “distracted” with its acquisition strategy. The latter has purchased five companies in 2010 and seven in 2009.
Rodriguez said that unlike 2009, when companies were focused on using teleconferencing solutions primarily to cut down on travel costs, in 2010 the market started returning its attention to the pre-crisis model of using video conferencing to boost productivity and efficiency.
Growth of video conferencing in Latin America is above the global average, but that is in part because the region is coming from a lower installed base, the executive said.
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Polycom expecting above 30% growth in Latin America in 2011
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