BARCELONA (Reuters) - Cisco Systems Inc Chief
Executive John Chambers still thinks that tougher times may lie
ahead for network equipment spending, but says it's nothing to
"freak out" about.
At a media event on Monday during the Mobile World Congress
in Barcelona, Chambers reiterated his comments last week that
business executives are cautious, but suggested that sentiment
could soon turn.
"I hope to be here in three months saying I was wrong and
it wasn't much," he said. "We view it as a very shallow
scenario and nothing to freak out about."
The comments from Chambers, typically among the most upbeat
technology executives on the global economy, come after he said
last Wednesday that U.S. and European chief executives were
being the most cautious he had seen in many years.
His comments, along with a disappointing revenue forecast
from Cisco, had added jitters to a shaky market -- and rocked
his company's shares.
Chambers repeated on Monday that he expects a slowdown in
corporate network equipment spending.
"If I thought (the downturn) was really long and really
deep, I would say that to you," he said.
Cisco is the latest of a slew of technology companies that
have been raising warning flags about nervous consumers and
businesses facing the threat of a recession.
(Reporting by Sinead Carew; Writing by Franklin Paul,
editing by Dave Zimmerman)
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