Cisco to debut consumer product in Oct

Cisco Systems Inc is set to unveil a new consumer product in October, the company said, amid expectations for a cheaper, consumer-friendly version of its popular TelePresence videoconference systems . A spokesman on Monday declined to give details on the Oct. 6 announcement except to say that it would be a major, new consumer product. Robert Lloyd, a senior executive at Cisco, told Reuters in May that the company expects to begin selling a consumer version of its TelePresence systems, which cost around $300,000 per unit and are used by business clients, late this year. He said a consumer version would likely cost about $500 each.