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July 20, 2007 13:08 IST
The emerging nations of India, China, Brazil and Russia are firing IBM's growth and constituted five per cent of the company's second-quarter revenue.
"These emerging countries are among the fastest growing IT markets in world -- and we're investing to capture growth," Mark Loughridge, IBM's chief financial officer, told analysts during a Wednesday conference call to discuss the vendor's latest financial results for the three months ended June 30.
IBM revenues from these emerging countries grew 25 per cent in the second quarter and IBM expects these revenues to double over the next four years.
"Our strategies to focus on higher growth emerging countries are paying off. Asia was our strongest contributor to revenue, up double-digits. Our ASEAN and South Asia region was up over 50 per cent, led by India," Loughridge said.
In the area of strategic outsourcing, IBM saw particularly strong revenue growth in India with an increase of nearly 150 per cent.
Looking at IBM's services business as a whole in India, Loughridge was extremely bullish. "We're beating the local competition on their own turf," he said, citing deals with Bharti Telecom, and Idea Cellular [Get Quote].
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