While its revenue shrank globally, India was one of the fastest growing geographies for IBM in 2017. IBM India’s revenue grew by 8.6% in reported currency for the year. Mexico, Spain, France, Canada, and Brazil also reported growth.
China declined by 10% in constant currency. Many other geographies declined too, including the U.S., U.K., Germany and Japan.
After reaching peak revenues of $107 billion in 2011, IBM steadily declined to $79 billion last year. It subsequently divested much of its hardware businesses, and shifted to cloud-based software platforms.
India has IBM’s biggest employee base — an estimated 130,000 of the overall 380,000, with a sizable proportion of its staff working in the IT services business.
