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IBM Approaching One Billion USD Revenue in India

Discussion in 'News' started by Polaris573, Dec 10, 2007.

  1. Polaris573

    Polaris573 Senior Moderator

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    IBM over the weekend announced it is quickly approaching $1 billion USD in revenue from the Indian market for the entire year of 2007. "We expect our revenues to reach USD one billion by the end of this calendar year up from 700 million in 2006 driven by strong factors. In the first three quarters of the current financial, the company's revenue has grown by over 39 per cent," said Jesse Green, IBM VP of Financial Management. During 2006, IBM had a growth rate of 37 percent in India, and grossed almost $700 million USD. The increase in revenue was helped by several major deals IBM made with companies in the nation throughout the year. IBM has deals with major telecom, realty and financial companies in India, with other announcements expected in 2008. "India is very important to us, not only for its domestic sales but providing a competitive cost structure and skills set to compete globally in the services businesses," Greene added. Furthermore, IBM expects to see India as the "hub for global delivery," allowing the company to conduct major research and development in the growing tech nation. The nation's evolution into a "hub" allows India to bring in added resources and technologies that used to go to other BRIC (Brazil, Russia, India, China)-type nations. IBM currently has 53,000 employees and 35 offices in India, making up one-seventh of the company's global workforce. The company had only 3,000 workers in 2002.

    Source: DailyTech
     
  2. Silverel

    Silverel New Member

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    Big Blue eats AMD.

    x86 processors with 1k cores released a year later.

    Intel poops.

    :rofl:
    j/k j/k

    /dream
     
  3. hacker111

    hacker111 New Member

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    I think it is absolutly fantastic. They are employing the Indian people and helping the Indian economy.....Great
     
  4. WhiteLotus

    WhiteLotus

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    indians tech is growing at an astouding rate. its just a shame that its only happening in the bigger cities and the government there isn't doing everything it can to help the little people. still this is good news

    IMB>all
     
  5. Nkd New Member

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    My native country is india, I went their last year and saw a citi being built right outside of New Delhi, it looked just a like a beautiful american town, but sad part is that poor is still poor, and the government doesn't do anything for them, I saw kids on the streets that should be in schools, and it was plain sad, outside organizations cant do everything for those kids, and I just think that the government leaders there need to empty 50% of their pockets and every kid there would be educated, government is bought out by the rich over there and they keep getting richer, every leader probably has enough money to feed there next 1000 generations.
     

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