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Cisco drops Polycom as supplier, analyst says
Cisco has dropped Polycom as its supplier for conference phones, according to an analyst note.
Jason Ader�of the�William Blair�firm said Cisco's decision could cost Polycom, a San Jose-based maker of teleconferencing equipment, $50 million in revenue and 8 cents in EPS in 2014,�Streetinsider reported.
As Seeking Alpha noted, the companies are rivals in the videoconferencing market. IDC estimated that Cisco had 41 percent of the market in the second quarter, while Polycom had 29.2 percent.
The news follows a rough few months for Polycom.�In July, CEO�Andrew Miller�resigned after an internal audit turned up irregularities in his expense reports, and the company in the most recent quarter reported that profit fell 16 percent to $5.3 million. Revenue was down 3.7 percent to $345.2 million.
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