Cisco's Overall Networking Market Share

For the last four quarters in total, Cisco's market share was 55 percent, 1 percent down from the preceding four quarters at 56 percent.

In August, Cisco unveiled a major restricting plan in order to invest in priority areas such as security and IoT that included the elimination of up to 5,500 positions.

"Restructuring [enables] us to optimize our cost base in lower-growth areas of our portfolio and further invest in key priority areas such as security, IoT, collaboration, next-generation data center and cloud," said CEO Chuck Robbins during Cisco's fourth fiscal quarter earnings call.

However, Robbins said the plan would not de-emphasize the company's focus and investment in its core routing and switching business. "It's not that we're ignoring one in favor of another, we just want to make sure that our investments are commensurate with the growth opportunity," he said.