SAMSUNG OVERTAKES HP AS THE WORLD's LARGEST TECH FIRM

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SAMSUNG OVERTAKES HP AS THE WORLD's LARGEST TECH FIRM

 user 2010-02-01 at 10:27:37 am Views: 45
  • #23365

    http://www.dailyfinance.com/story/samsung-overtakes-hp-as-the-worlds-largest-tech-firm/19336992/
    SAMSUNG OVERTAKES HP AS THE WORLD’s
    LARGEST TECH FIRM

    The New ‘Big Blue
    Hewlett-Packard 
    has lost its crown as the world’s largest tech company based on
    revenue. Samsung posted 2009 sales of $117 billion, about $3 billion
    more than HP for the last fiscal year. According to the Financial Times,
    Samsung “is expected to surpass its US rival again this year – its 2010
    sales are forecast at $127bn, compared with $120bn from HP.”Samsung won
    the top spot due to improvements in LCD sales and growth in demand for
    memory chips. Its move into first place among global tech firms is all
    the more impressive because some of HP’s growth came from its
    acquisition of EDS, the information-technology consulting firm.

    Of
    course, first place in an industry can have its disadvantages. Three
    years ago, GM was the No.1 car company in the world; last year it filed
    for Chapter 11. Toyota (TM) took the top spot among auto firms and is
    now under tremendous pressure to fix gas pedal problems on nearly 8
    million cars worldwide.But for Samsung, so far so good, though it has
    had quality problems of its own, such as last year’s recall of a small
    number of cellphones that might fail to complete “911″ calls.Making it
    to the top of an industry is good for bragging rights and boosts morale
    – until there’s a problem. And those almost always hit without warning.