Wipro Limited (NYSE: WIT) is a global information technology (IT) services provider. The company makes software and hardware and provides outsourcing services to foreign corporations. Specifically, Wipro provides IT Solutions and Services, including systems Integration, Information Systems Outsourcing, IT Enabled Services, Package Implementation, Software Application development and maintenance, and Research and Development Services to corporations globally. Wipro also has a profitable presence in niche market segments of Consumer Products, Lighting, Furniture, Eco Energy, Water treatment and Hydraulics. Wipro has over 72,000 employees and 647 clients.
Wipro has been a prime beneficiary of the outsourcing boom that has taken place in India throughout the 2000s. The company's revenue grew by 450% from 2002 to 2007. That said, this success has led to higher salaries (wages have been growing by more than 14% per year since 2005), putting pressure on the company's margins. Moreover, Wipro's model is personnel intensive and its continued rapid growth will depend on the ability of the company to successfully attract large amounts of skilled labor - a scarce resource in a tight labor market.(Read more at Wikinvest )