India PC market grows 7.1% in Q2; HCL appoints new CFO

PC market grows 7.1% in second quarter of 2024: IDC

The personal computer market in India that includes desktops, notebooks, and workstations saw a 7.1% year-on-year (YoY) growth for the second quarter of 2024 with shipment of 3.39 million units, according to recent data from the International Data Corporation (IDC) Worldwide Quarterly Personal Computing Device Tracker.

In Q2 of 2024, the consumer segment surged by 11.2% YoY as both online and offline channels saw good demand. The e-tail channel grew by a healthy 22.4% YoY. The commercial segment grew by 3.5% YoY fueled by an increased demand in the SMB and LB segments which grew by 12.4% YoY and 33.1% YoY, respectively.

“This is the fourth consecutive quarter of YoY growth for the consumer segment,” said Bharath Shenoy, Research Manager, IDC India & South Asia. “Vendors kickstarted the back-to-school/ college campaigns, and good demand was seen in the e-tail channel as well during online sales. Vendors stocked the channel to prepare for upcoming Independence Day sales, which gave a healthy growth in consumer PC shipments.”

HCLTech appoints Shiv Walia as CFO

HCLTech has appointed Shiv Walia as the new Chief Financial Officer (CFO) of the Company with effect from September 6, 2024. He will be taking over from Prateek Aggarwal, who after serving in this role since October 1, 2018, has decided to step down to pursue opportunities outside HCLTech.

Shiv Walia started his professional career with HCL in 1993 and served across several finance leadership roles over the last many years. He is currently Corporate Vice President and Global Head of FP&A and Business Finance Operations.

“Shiv Walia has been integral to our success over the last many years. As a seasoned finance leader, he has played key roles across our various geographies and businesses through multiple business cycles and has extensive knowledge of HCLTech’ s businesses and clients," said C Vijayakumar, CEO and MD, HCL Tech.

Titan signs MoU with IIT Madras

Titan Company and Indian Institute of Technology Madras (IITM) have signed a Memorandum of Understanding (MoU) to collaborate on a broad spectrum of initiatives aimed at driving innovation and creating significant social impact. This partnership aims to leverage technology, research, and education for mutual benefit and societal advancement.

Titan and IITM will engage in bilateral research and consultancy projects facilitated by IITM's Center for Industrial Consultancy and Sponsored Research (IC&SR). Titan will recruit graduates and interns from IITM. Employees and faculty from both organisations will participate in research interaction visits, sabbaticals, and advisory roles, coordinated by the Office of Global Engagement at IITM.

Responsive appoints Shankha Sen as CFO

Responsive, a US headquartered software company with a presence in India, has announced the appointment of Shankha Sen as its first Chief Financial Officer.

Sen, who has over 25 years of experience, was previously the Group Vice President, Finance for PowerSchool, a provider software for K-12 education. He also held numerous positions at Red Hat including Vice President, Global Finance, where he led global finance teams during its acquisition by IBM for $34 billion. Earlier in his career, Sen served in a variety of finance positions at EMC/Dell Technologies and Sequent/IBM.