Tech firms have seen a slump of at least $1.7bn in sales this year due mostly to Asian countries losing confidence in the tech firms ability to handle sensitive data without the data being compromised.
An analysis of financial filings from technology giants IBM and Cisco by The Independent on Sunday reveals the two businesses have seen sales slump by more than $1.7bn £1.03bn year-on-year in the important Asia-Pacific region since Mr Snowden revealed in June that US companies had been compromised by the NSA‘s intelligence-gathering in the clandestine Prism programme.“US companies have seen some of their business put at risk because of the NSA revelations,” said James Kelleher of equity research firm Argus Research.
There are two ways of looking at this. The tech firms have lost this business because they are not trustworthy or the tech firms lost the business because of Edward Snowden’s leaking of sensitive documents. One perspective is gained from reading the news while the other is the result of propaganda released as news.