Cisco (CSCO) Said to Help with 1984-Style Project in China
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Price: $121.31 +2.54%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.7%
Revenue Growth %: +14.7%
Overall Analyst Rating:
SELL (= Flat)
Dividend Yield: 2.7%
Revenue Growth %: +14.7%
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Cisco (Nasdaq: CSCO) is expected to aid China in monitoring its citizen's more closely.
In a script taken directly from George Orwell's 1984, Cisco should be contracted to provide up to 500 thousand cameras throughout China in order to prevent crime.
The contract will cover China's Chongqing, an area over 400 square miles with nearly a half-million intersections, according to the WSJ.
China has dubbed the move the "Peaceful Chongqing" project.
Exports of crime-control products to China have been banned since the Tiananmen Square incident in 1989. However, bans don't cover sales of camera's and related equipment to China.
Cisco has said that it strictly abides to the Tiananmen export controls.
Competitor Hewlett-Packard Co. (NYSE: HPQ) is also said to be bidding on the project.
Chongqing is one of China's most populous cities, with over 12 million residents.
Cisco shares are up modestly ahead of the bell.
In a script taken directly from George Orwell's 1984, Cisco should be contracted to provide up to 500 thousand cameras throughout China in order to prevent crime.
The contract will cover China's Chongqing, an area over 400 square miles with nearly a half-million intersections, according to the WSJ.
China has dubbed the move the "Peaceful Chongqing" project.
Exports of crime-control products to China have been banned since the Tiananmen Square incident in 1989. However, bans don't cover sales of camera's and related equipment to China.
Cisco has said that it strictly abides to the Tiananmen export controls.
Competitor Hewlett-Packard Co. (NYSE: HPQ) is also said to be bidding on the project.
Chongqing is one of China's most populous cities, with over 12 million residents.
Cisco shares are up modestly ahead of the bell.
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