Although Nokia cell phones were a large part of computer business HCL’s annual revenues, the company has not lost ground since Nokia limited the relationship. In the third quarter, HCL infosystems stated its revenue had grown 60 percent above and beyond the same time last year. Profit before tax grew 39 percent from last year at the same time.
The computer business credits its growth to its emphasis on selling computers and services in the telecommunications and automation business. Nokia broke off involvement in HCL’s distribution business and took half with it in February of 2006. Many experts assumed this split would hurt the computer business since 70 percent of HCL’s revenue came from its sales of Nokia phones.
Blogged By: Joshua Feinberg