CSCO · 10-K · 2026A · Full report

Competition And Pricing Pressure

CISCO SYSTEMS, INC. · 2026-09-02 · Importance 32 · Surprise 24

Cisco continues to operate in a highly competitive and complex environment, particularly concerning memory constraints and costs and trade policy. Product gross margin was pressured by product mix, with higher Networking revenue contributing to the mix impact, while productivity benefits were adversely affected by higher memory costs. Pricing actions provided a modest offset to product-margin pressure, and favorable pricing contributed to fourth-quarter gross-margin improvement. The filing does not identify specific competitors or quantify market-share changes in this section.