Cisco, Verizon Partner on Consumer Video Conferencing Launch
NEW YORK Oct 5 (Reuters) - Verizon Communications Inc (NYSE:VZ) said on Tuesday it will be part of Cisco Systems Inc's (NASDAQ:CSCO) announcement of a home version of its TelePresence videoconference system.
Cisco is widely expected on Wednesday to unveil a cheaper and consumer-friendly version of its popular TelePresence system, currently used by businesses. Cisco itself has not given details except to say that it would be a consumer product.
The TelePresence systems installed in offices can cost around $300,000 per unit. They feature high-quality video and sound, with limited delays, making users almost feel like they are meeting in person.
Cisco had said in January that it would team up with phone and Internet service provider Verizon to install the system in U.S. homes.
The world's biggest network equipment maker has been trying to expand into consumer products, in an effort to keep its revenue growing even as its traditional business matures. (Reporting by Sinead Carew and Ritsuko Ando; Editing by Tim Dobbyn)