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BYD tops global Tech 100 list


9:17 am
May 31, 2010



posts 215

For the first time, BYD, the Shenzhen-based maker of cars, batteries,
electronics, and solar power equipment, has earned the No. 1 spot on
Bloomberg Businessweek's annual Tech 100 ranking.

BYD, which stands for Build Your Dreams, outperformed perhaps the
hottest tech outfit around, Apple, at No. 2, to become the first Chinese
company to gain the honor since the list was initiated 12 years ago.

Another Shenzhen company, Tencent Holdings, one of China's largest
Internet service portals, stood at No. 3.

Last year's reigning champion, Amazon.com, dropped three places to
No. 4 and Tata Consultancy jumped from No. 30 last year to land the No. 5
spot. Google was ranked No. 22.

U.S. companies still dominated the ranking of the world's best-
performing tech companies. But China and India are emerging powerhouses,
with the number of companies on the Tech 100 right up there with
traditionally strong tech country Japan.

To compile the Tech 100, Bloomberg Businessweek started with 6,500
tech companies. Requirements were set: a minimum market cap of 1 billion
USD, revenues of at least 500 million USD and no more than a 5-percent
decline in revenues from 2008 to 2009. Revenues and operating income
were then normalized to compare the remaining 210 companies, and they
were ranked based on these metrics as well as shareholder return and
employee growth, with 1 being the top ranking. Adding them all up, the
companies with the lowest-weighted rankings made the list.


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