IT companies ascend the Fortune 500
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Oracle and Lenovo swell the ranks of Fortune 500 IT companies
The information technology industry has again raised its standing among the world’s corporate elite, according to Fortune magazine’s ranking of corporate prowess.
Fortune’s Global 500 for 2008, based on annual revenues, shows two new arrivals from the IT sector – Oracle and Lenovo – and companies as diverse as Microsoft, Cisco, Apple and Accenture ascending through the rankings.
Oracle, the world’s second largest software company, makes its first appearance in the Global 500 at number 462 – no little thanks to a string of acquisitions in recent years – while PC and laptop maker Lenovo, swollen by its buy-out of IBM’s Personal Computer division, squeezed in at 499. Unlike previous years, no tech companies were displaced from the list.
At the other end of the table, HP led the technology entries, holding its position as the world’s 41st largest company, helped by revenue growth of 13.8%; IBM, which was only one place behind it last year, dropped a few places to 46, despite its strong revenue rise of 8%.
However, among some of the fastest risers were the leaders in laptop manufacturing, Taiwan’s Quanta and Asustek. Quanta, which makes devices sold by Apple, Dell, Toshiba and scores of others, jumped more than 100 places, while rival Asustek rose 64 places.
Also notable was the rise of France’s networking systems powerhouse Alcatel, which following its acquisition of US-based Lucent has risen by 76 places. Less prestigiously, though, Alcatel-Lucent
appears in another ranking – the biggest loss-makers table – at number six.
| 1 | Hewlett-Packard | $104.3 bn |
| 2 | IBM | $98.8 bn |
| 3 | Dell | $61.1bn |
| 4 | Microsoft | $51.1bn |
| 5 | Fujitsu | $46.7bn |
| 6 | NEC | $40.4bn |
| 7 | Intel | $38.3bn |
| 8 | Canon | $38.1bn |
| 9 | Cisco Systems | $34.9bn |
| 10 | Flextronics Int’l | $27.6bn |
| 11 | Alcatel-Lucent | $24.6bn |
| 12 | Apple | $24.0bn |
| 13 | Quanta Computer | $23.7bn |
| 14 | Asustek Computer | $23.0bn |
| 15 | EDS | $22.1bn |
| 16 | Accenture | $21.5bn |
| 17 | Ricoh | $19.4bn |
| 18 | Oracle | $18.0bn |
| 19 | Xerox | $17.2bn |
| 20 | Lenovo | $16.8bn |
Companies ranked by 2007 revenue. Included are companies that derive the majority of their revenue from sales of information technology products or services. Excluded are technology product distributors, electronic component makers, telecoms companies and mobile phone manufacturers.
Further reading
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An interview with Steve Mills In a rare and exclusive interview, IBM’s software chief, Steve Mills, opens up on the company’s software agenda
