Page 44 - IACC Newsletter August-September 2013 Issue 13

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Healthcare, along with data analytics, is the fastest growing business line for the company, which reported annual
revenues of $443 million in 2012. Till 2007, EXL took a conservative approach to acquisitions, staying away from making
expensive ones. But as valuations came off their peaks, the company has made one acquisition almost every year after
2007. The largest acquisition till date was that of Outsource Partners International in 2011 for about $90 million.
"Given healthcare is a highly regulated industry, companies have been cautious with offshoring. What's been offshored
so far is mostly claims management. But, there are a number of areas where significant offshoring is possible," Shyan
Mukerjee, practice director at Everest Group. "Indian companies are therefore looking to build local capabilities in the
US."
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Apple to enter smaller Indian towns with iPhones, iPads
Apple wants to enter smaller Indian cities and towns with iPhones, iPads and iPods as it feels these markets can deliver
on its bid to grow fast. Apple may soon be slugging it out in the trenches with Samsung and other smartphone rivals as
India country head Maneesh Dhir and telecom business chief Sanjay Kaul seek a rapid increase in the pace of growth in
India, a market that it has neglected until recently.
While the iPhone has always been an object of desire, Apple wasn't able to make a big dent in India because of pricing
issues peculiar to this country - handsets aren't subsidised by contracts as in other parts of the world. Until recently, this
was taken to mean that Apple wasn't really interested in pushing sales in the world's largest mobile market after China,
while companies such as Samsung have pitched their products hard in India.
Samsung leads the India smartphone market with a 36% volume share, according to research firm Canalys, while Apple's
was 2% in the April-June quarter. Apple's value share is higher at 5%, it said. To their credit though, Dhir and Kaul have
tried to work around their constraints by offering iPhones and other devices on installment, tapping a considerable vein
of pent-up demand.