Video Conferencing for Online Meetings
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Video Conferencing Sales on the Rise
May 20th, 2008 by Video Conferencing Expert
As rising fuel costs make business travel more expensive and fewer flights resulting in unexpected cancellations and delays, video conferencing becomes an increasingly attractive alternative. Polycom’s videoconferencing equipment sales grew 19 percent to $113.8 million in the first quarter, as companies embrace the web conferencing technology to cut costs, and connect geographically distant teams.
Polycom CEO Bob Hagerty:
If you’re creating a globalized enterprise, how could you not think about how people are going to communicate within that enterprise? You need to create teamwork in a framework where people can work together. That’s why our technology has really taken off.
Total revenue for Polycom’s first quarter was $258.9 million, up 34%from $192.7 million a year earlier. Profits also increased, reaching $14.2 million, up 39% from $10.2 million in the first quarter of 2007.
Web Conferencing systems have emerged as the company’s fastest growing product line. The systems transmit life-size, high-definition video images of people to create the illusion of being in the same room. The can sell for as much as $29,000 per site.