The IT services provider highlighted that the pandemic could pose a major risk going forward as key clients across the United States, Europe and other prominent markets cut costs due to the prolonged economic impact of the outbreak.
The new entity, according to two sources with knowledge of the developments, is likely to provide Information Technology and IT enabled services support to all of ByteDance’s platforms worldwide, including in India.
The Teaneck, New Jersey-based IT services provider earns around 38% of its $16.8 billion revenue from digital businesses, which include helping clients shift applications to the Cloud, marketing online and on social media and building applications for smartphones and maintaining them at scale.
Revenue from Tata Sons as well as subsidiaries and associates grew to nearly Rs 2,656 crore compared to a more than 13% growth to Rs 2,566 crore in financial year 2019, when the software services exporter capitalised on the group's new technology initiatives.
IDC has now projected the smartphone market in India could hit as low as 130 million handsets as compared to earlier estimate of 140 million. Counterpoint has just revised its outlook pegging the industry at 137 million from earlier outlook of 142 million. Last year, India had sold around 154-158 million smartphones.
Infosys, co-founded by Sunak's father-in-law Narayana Murthy, said it had used the furlough - or forced leave - option for 3% of its staff in order to tide through the lockdown. "In light of the current situation, Infosys has furloughed 3 per cent of its UK workforce. We are reviewing this on a weekly basis,” Infosys told ‘The Sunday Times'.
Infosys has withdrawn its growth guidance for the first time citing uncertainties in clients’ business in the wake of the pandemic. The company said in the filing that some of the specific “consequent risks related to the occurrence of Covid-19 that have materialized” include delay and suspension of some existing services projects.from Technology News, Latest Gadget Reviews, Gaming & Tech Videos | Times of India https://ift.tt/o3b1NzK
