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Cisco, a leading brand of internet network equipment, was recently reported by Russian state media that they had disposed of the entire supply of network equipment in that country and Belarus at the end of January this year.
According to the report, this equipment includes ready-to-install equipment as well as spare parts needed to repair any existing network equipment. It is estimated that the equipment is worth $23.5 million (RM 104 million) and was disposed of by Cisco because it did not want the equipment to fall into the hands of the Russian government.
Even so, the company's own financial report reported that the write-off of assets in the country was reported to be as high as $67 million (RM300 million) in the third quarter of last year and this included the disposal of all Cisco assets in the two countries.
This includes office equipment, owned vehicles and even money paid to help former employees who had to be let go when the company stopped operating in Russia.
Although this write-off loss is seen as very high, it is not seen as bad for them, especially when Cisco has just recorded 13 billion in revenue and 2.773 billion in net profit in the second quarter of this financial year.