HCL Infosystems announced that it signed an agreement
with phone major Nokia to extend their distribution relationship for Nokia
devices. The devices agreement would come up for renewal again on December 31st
HCL Infosystems and Nokia have enjoyed a long and a fruitful
partnership. The two companies have signed agreements on Aug 12th 2011 to
extend their distribution relationship for Nokia devices,” HCL Infosystems said
in a press release.
HCL Infosystems’ revenue from Computer Systems business
for the quarter ended June 30th
Rs 854 crore, taking the revenue for the year to Rs 3691 crore.
Revenue from Telecommunication and Office Automation
business for the quarter was Rs 1768 crores, taking the revenue for year to Rs
Inflationary pressures leading to aggressive interest
rate escalation has also played an integral role in slowing down the economy
and the desired growth momentum. Led by a volatile environment in the country
today, the capacity expansion in most sectors has momentarily taken a back seat
with IT sectors like System Integration, IT product and Services been affected
in the domestic markets with the slow Government project execution and decision
But I see this having only a short term impact, as with
the emerging broadband ecosystem, leading to technologies like cloud services,
mobility and steps taken by the Government with the new Electronics policy and
focus on R&D, have great potential to be big growth drivers in the long
run. As HCL Infosystems begins its new year, I am confident that our rigorous
execution plans will show results and build a strong organisation over the next
2-3 years for the future,” said Ajai Chowdhry, founder HCL and chairman, HCL
business continued to be severely impacted by slow down in projects and
customer decision cycles.
The recently inducted
businesses like Learning more than doubled and we also did exceedingly well
with successfully establishing presence in new growth areas such as remote
services and emerging markets in Middle East and Africa.
HCL Infosystems has
embarked on a transition phase. With the companywide business excellence
program currently underway, we are putting relentless efforts to re-align the
organisation to drive cost and working capital efficiencies and to re-position
it for future growth opportunities. Over the next 12-15months we expect these
efforts to result in terms of bottom-line as well as cash flow performance,”
said Harsh Chitale, chief executive officer, HCL Infosystems.
By Telecomlead.com Team