Compaq is Forbes' company of the year
REUTER
New York, Dec 29: Forbes magazine named Compaq Computer Corp as the company of the year, saying the computer maker "stands out as a company that has come from nowhere to occupy a powerful position in today's key industry."Forbes in its latest issue also said that financial services was the best performing sector in 1997, followed by entertainment and insurance. The monthly magazine said that "if you think Compaq is just an assembler and marketer of boxes, you are behind the times. "Since taking over the Houston-based Compaq in 1991, Eckhard Pfeiffer has put together the preeminent Wintel (clone) computer company, with $25 billion in sales for 1997. No other company -- not Dell Computer Corp, not Hewlett-Packard, not IBM -- even comes close in the clone business." Forbes picked Compaq out of 1,286 public companies that it examined for its 50th annual report on American industry, based on profitability, growth, stock market performance and consistency. Forbes said that although Compaq's success is
still tied to the desktop, the company has come roaring into the big-ticket computer market with a line of products based on standard microprocessors from Intel Corp running the standard Windows NT operating system from Microsoft Corp. Compaq last year sold 9.5 million PCs which accounted for about two-thirds of its revenues, it said.
Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.
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