updated 08:15 pm EDT, Tue May 6, 2014
Software makes 40 percent of revenue, future growth to come from initiative change
Symantec's Senior Vice President of Information Brian Dye says that anti-virus "is dead" in a recent article from the Wall Street Journal. The company plans to shift its outlook away from anti-virus software to take on the ever-evolving world of cyber attacks and malware. The intent will be to follow the new protection mindset that focuses on less of preventing, and more on containing the damage.
Symantec has been struggling in the security sector, often being beaten by startup companies such as FireEye, despite the company being one of largest names in personal computer security. The company fired its CEO in March, following a lack of innovation to push the company towards growth in other sectors, such as mobile devices.
The company has found it hard to be relevant while watching from the side lines. Dye points this out, saying that "it's one thing to sit there and get frustrated. It's another thing to act on it, go get your act together and go play the game you should have been playing in the first place."
The new strategy for the company will be to sell "intelligence briefings" and develop specialized equipment to fight threats internally. However, it is clear that the change in direction will be a struggle for the company that still sees 40 percent of their revenues come from traditional anti-virus products in their Norton line.
Symantec doesn't have a plan to abandon the Norton software, but instead will look to future endeavors for growth. "If customers are shifting from 'protect' to 'detect and respond,' the growth is going to come from detect and respond," says Dye.