During this period Axis expanded into Russia, with the opening of a new sales office in Moscow, to strengthen its presence in this high potential market. The Moscow Metro, Axis’ largest Russian customer, recently extended its installation, including adding network video products. More than 3,000 Axis products are now installed on Moscow Metro trains, and the company believes the project has further growth potential.
During these six months Axis employed 80 new people, with its total employee numbers up to 644.
New products and standards
In April Axis announced a new generation of network video products built upon its in-house developed ARTPEC-3 chip. ARTPEC-3 incorporates the H.264 compression standard that reduces the storage and bandwidth needs of network video surveillance and is designed to unburden the increasing network overload.
In mid-May, Axis, Bosch Security Systems and Sony Corporation announced their cooperation in launching an open forum for developing a standard interface for network video products. The new standard is intended to increase compatibility across different manufacturers’ products, which will increase freedom and flexibility for end users and system integrators when choosing equipment.
Successful expansion
Ray Mauritsson, Axis Communications president, said: “During the first half year we continued our successful expansion by introducing a new product platform and opening of new sales offices in Moscow, San Paolo and Beijing. Despite the global financial downturn, which has affected Axis’ customers’ new investments and expansion plans, the global network video market remains on a high growth trajectory. Axis’ goals and expansion plans have not changed.”
Phil Doyle, managing director, Axis Communications (UK) Limited, said: “This set of financial results for the first half of this year underlines the continued strong growth enjoyed by Axis. Axis continues to invest in its products, operations and its people to capitalise on the huge opportunities presented by network video.”