Cisco CEO: 'Brutal' Times Are Coming For The Tech Industry

John Chambers believes that the rapid pace of change in the technology industry is going to create a bloodbath for the major tech players, and every other company on the planet.

"You are going to see a brutal, brutal consolidation of the IT industry where out of the top five players, only two or three of us will be meaningful in as quick as five years,"

Cisco will come up with SDN products that will sell well in a market that won't be in full swing for a number of years yet.

(By the way, Cisco and VMware are also close partners, running $1 billion joint company called VCE together, so it's a delicate love-hate relationship.)

In the meantime, Chambers also predicts a general bloodbath for all businesses everywhere. He noted that only 24% of the companies on the Fortune 500 25 years ago are still on that list today.

Read more: http://www.businessinsider.com/cisco-ceo-brutal-times-for-it-coming-2014-5#ixzz32x9ql2BQ