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By Donald S. Passman

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For all of these countries, although ICT goods output was slowing or declining slightly and services slowing in mid-2008, the slowdown and declines so far are not as dramatic as the ICT crash in 2001-02 as the sector is markedly stronger and has not engaged in the excesses of the earlier period. 5. 1787/472682210731 Source: Industry Canada, Quarterly Monitor of the Canadian ICT Sector, Second Quarter 2008, September 2008. Prospects in the near to medium term In the first three quarters of 2008, ICT markets and the ICT industry were resilient in the face of financial market turbulence, rapidly weakening macroeconomic conditions, falling business and consumer confidence and the onset of recession in the OECD area.

1. Methodology used to compile the 2006 ICT top 250 Sources used to identify the top 250 ICT firms include the Business Week’s Information Technology 100, Software Magazine’s Top 50, Forbes 2000, Washington Post 200, Forbes Largest Private Firms, Top 100 Outsourcing, World Top 25 Semiconductors, and a number of other Internet listings. Having identified the candidates for a top 250 listing, details were sourced from the latest annual reports, Securities Exchange Commission 10K and 20F forms, directly from company financial reports and from various Internet investor sources, including Google Finance, Yahoo!

3. ) 1. THE IT INDUSTRY: RECENT DEVELOPMENTS AND OUTLOOK 41 1. THE IT INDUSTRY: RECENT DEVELOPMENTS AND OUTLOOK fewer than 100 000. At the end of 2007, the largest single employer was Hon Hai Precision, which reported more than 500 000 employees. Nineteen of the top 50 ICT firms enjoyed double-digit revenue growth over the period 2000-07, most notably Hon Hai Precision, America Movil, ASUSTeK Computer, and Vodafone. Revenue declined in only four. Twelve firms showed double-digit employment growth between 2000 and 2006 (Hon Hai Precision, America Movil, China Mobile, China Telecom, Vodafone, Apple, Dell Computer, Sumitomo Electric, Accenture, KDDI, Nokia and Hewlett-Packard as a result of mergers and acquisitions); just two firms had double-digit declines.

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