Any sufficiently advanced technology is equivalent to magic.
- Arthur C. Clarke
Tech industry is one of the most attractive and fastest growing industries of the world. The business model of tech companies is to trade technology i. e., they make money by selling technology.
Every tech company’s general objective is innovation and production of new technology.
There is a cut-throat competition in the tech industry to be the best. Technological environment is very dynamic. Let us see which companies fall under the list of top ten tech companies in 2018.
No surprise, Apple is hitting the no. 1 position in the top tech companies worldwide.
Its products and Services include consumer electronics (I pod, I phone, apple watch), computer software (Safari,i life) and online services (Apple music, iTunes, i cloud).
It was founded by Steve Jobs. Apple has created a brand value which is hard to beat. It has positioned as a premium brand. In spite of having a high price tag, it is the 2nd largest cell phones producer and has become a status symbol for people. Indeed, Apple is the largest information technology company in the world.
2. Samsung Electronics:
Samsung is known for its complicated ownership structure. It is the world’s second-largest company after Apple. The Samsung Galaxy line of smartphones has helped the company to flourish to be the largest mobile manufacturer. It has been a market leader in electronic items for a long time.
It is an electronic e-commerce company founded in 1994. It is the largest online retailer after Alibaba. It is also diversified in consumer electronics and online bookstores. It has separate websites for different countries. It also offers international shipping of some products to some specific countries. It is gradually outranking the giants like Walmart and being the third largest tech company in terms of revenue.
Foxconn is the largest contract electronics manufacturer. Terry Gou founded the Foxconn Technology Group in 1974. The company claims to integrate expertise in mechanical and electrical parts. It manufactures electronic products for major companies worldwide. The company is often in news for being criticized to pay low wages to the workers.
It is an American multinational Company having many subsidies. It is the parent company of Google and its other subsidies. It deals with several unrelated businesses like research, technology etc. As per Larry Page, the CEO of Google, “Alphabet is mostly a collection of companies. The largest of which, of course, is Google. This newer Google is a bit slimmed down, with the companies that are pretty far afield of our main internet products contained in Alphabet instead”.
Founded by Paul Allen and bill gates, It is a multinational company known for its software products. Microsoft is the largest software makers in the world. The most famous products being Microsoft Windows operating system, Microsoft Office suite, internet explorer etc. it also deals in Hardware Products (e g, Microsoft Tablet). It is known for its largest acquisitions , latest being LinkedIn and Skype technologies.
It is highly diversified multinational conglomerate company headquartered in Japan. It was founded by Namihei Odaira, an electrical engineer in 1910. Soon the company became the leader in electric motors and electrical power industry. Hitachi Ltd. is Japan's largest manufacturer of electrical machinery and a leading producer of semiconductors. According to Business Week, the company contributed two percent of Japan's gross national product in the early 1990s. The conglomerate's roster of over 20,000 products runs the gamut from the smallest, most powerful computer memory chips to massive nuclear and hydroelectric power plants, but its most familiar lines are consumer electronics
IBM, International Business Machines Corporation, is an American multinational company. It deals with making computer hardware, middle-ware and software. It also provides consulting services. IBM is such an innovative company holding so many patents related to technology. Some of its inventions are:
It continuously variate its businesses focusing on the more potential market. It has the Largest number of employees, many of whom have received prestigious awards.
It is a Chinese multinational company and the largest telecommunication equipment manufacturer in the world. It was founded in 1987 by Ren Zhengfei, as a phone switch making company. Later it diversified and grown into telecommunication and manufacturer of communication devices. Huawei gives immense importance to research and development. It has 21 R&D centers worldwide.
Number of employees:-
It is a multinational conglomerate and one of the largest manufacturer of consumer electronics.
It also offers a wide range of professional electronics and financial services.
Sony’s entertainment and gaming products are one of the reasons for its massive growth. It is a trusted and reliable brand for years.
It is clear from the list that American tech companies are outranking other countries but Asia n companies are fighting back giving tough competition to them.
So this was our top ten list of tech companies on the basis of revenue and growth for now. But the technological environment is very dynamic. Something which exists today may be outsmarted by improved technologies. Other companies are trying hard to fall in the top 10 list. You may see some new names on the list next year.