By Kim Yoo-chul
U.S.-based networking giant Cisco Systems (Cisco) has teamed up with LG CNS to foster markets for Internet of Things (IoT) and cloud computing systems.
Cisco Korea said it has chosen the LG affiliate as its first local business partner to jointly develop business projects for cloud and IoT services.
"Cisco believes the cloud computing market has huge growth potential. We've been consistent in providing standardized and qualified cloud and managed services to our partner companies," Cisco Korea CEO Chung Kyung-won said.
"We hope the partnership with LG CNS lays the groundwork for shared growth with more Korean partners in those segments."
LG CNS said the LG-Cisco alliance will help it move ahead in the heated race for cloud computing and IoT businesses.
"We hope the partnership with Cisco will produce substantial results," said Won Deok-joo, senior executive at LG CNS.
Increasing reliability and the decreasing cost of the Internet has grabbed attention from the global technology industry.
The more ubiquitous, efficient and cheap it becomes, the faster it will boost both economic and technological changes.
Cisco's indisputable advantages lie in networking, and it aims at connecting more things to the Internet.
It believes IoT will revolutionize homes and businesses and it is increasing its investment in the field.
"This is a win-win deal. With more things being connected to the Internet, Cisco will benefit the most. The partnership will be a good impetus for Cisco to approach more clients here. Also, because LG CNS has recently been pushing its cloud and managed solution services, the business expansion with Cisco looks meaningful," said an executive at LG Group of technology units, declining to be named.
"A lot of local businesses regardless of size, are increasingly acknowledging the benefits that IoT and cloud computing can provide, such as cost-cutting, efficiency in distributing software and advantages of being part of an integrated ecosystem of software solutions. Therefore, Cisco can't afford to lose such new business opportunities in the Korean market," said the LG executive.
LG CNS's infrastructure and desktop virtualization technologies have recently been certified by Cisco.
Research firm IDC predicts the ongoing shifts toward cloud and IoT will generate nearly $9 trillion in annual sales by 2020. IDC also estimates that the population of Web-connected things will grow to 212 billion by 2020.
U.S.-based networking giant Cisco Systems (Cisco) has teamed up with LG CNS to foster markets for Internet of Things (IoT) and cloud computing systems.
Cisco Korea said it has chosen the LG affiliate as its first local business partner to jointly develop business projects for cloud and IoT services.
"Cisco believes the cloud computing market has huge growth potential. We've been consistent in providing standardized and qualified cloud and managed services to our partner companies," Cisco Korea CEO Chung Kyung-won said.
"We hope the partnership with LG CNS lays the groundwork for shared growth with more Korean partners in those segments."
LG CNS said the LG-Cisco alliance will help it move ahead in the heated race for cloud computing and IoT businesses.
"We hope the partnership with Cisco will produce substantial results," said Won Deok-joo, senior executive at LG CNS.
Increasing reliability and the decreasing cost of the Internet has grabbed attention from the global technology industry.
The more ubiquitous, efficient and cheap it becomes, the faster it will boost both economic and technological changes.
Cisco's indisputable advantages lie in networking, and it aims at connecting more things to the Internet.
It believes IoT will revolutionize homes and businesses and it is increasing its investment in the field.
"This is a win-win deal. With more things being connected to the Internet, Cisco will benefit the most. The partnership will be a good impetus for Cisco to approach more clients here. Also, because LG CNS has recently been pushing its cloud and managed solution services, the business expansion with Cisco looks meaningful," said an executive at LG Group of technology units, declining to be named.
"A lot of local businesses regardless of size, are increasingly acknowledging the benefits that IoT and cloud computing can provide, such as cost-cutting, efficiency in distributing software and advantages of being part of an integrated ecosystem of software solutions. Therefore, Cisco can't afford to lose such new business opportunities in the Korean market," said the LG executive.
LG CNS's infrastructure and desktop virtualization technologies have recently been certified by Cisco.
Research firm IDC predicts the ongoing shifts toward cloud and IoT will generate nearly $9 trillion in annual sales by 2020. IDC also estimates that the population of Web-connected things will grow to 212 billion by 2020.
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