Cisco’s CEO John Chambers is speaking on CNBC right now, defending his company’s strategy.
He says it is likely Cisco will be facing future “air pockets” but it intends to “power through.”
He said he saw no reason to cut prices in order to increase the company’s volume of sales.
The company’s shares are down 16.58% in the pre-market, after the company announced disappointing revenue projections yesterday.
Its shares dropped dramatically after the announcement yesterday.