Dell changes name

AUSTIN: Dell Computer Corp has decided to change its name to Dell Inc, a management proposal that was approved by shareholders in proxy voting during the company’s annual meeting of stockholders at Austin on July 18, 2003. The company has decided to drop ‘Computer’ from its name, as shareholders at the company's annual meeting endorsed Dell's diversification into the data storage and printer markets.

Talking about the need for the change in name, Dell Chairman and Chief Executive Officer Michael Dell said that the company’s large and growing influence in the enterprise explains the company's name change. “The company's formal name is catching up with its evolution from supplying strictly computer hardware to providing a diverse range of technology products and services,” he added. He also claimed that, “More and more customers are making the company a trusted enterprise partner, especially for standards-based servers, storage systems and services.”

Speaking at the occasion, Dell reinforced that the company’s customer-focused direct way of doing business has enabled it to expand and deepen its customer relationships. 'We've always done business differently from other companies,' he said adding that the approach allows the company to understand the needs of customers better enabling them to create superior value for customers, and consistently produce leading operating results for investors and others stakeholders. He said that the applicability of Dell's direct model and opportunities for the company are vast. While the company's US business remains exceptionally strong, growth in other markets is also rapid. Product shipments last quarter were up 40 percent in Asia-Pacific and Japan, and 29 percent in Europe, the Middle East and Africa. Operating income in both regions nearly doubled, to record levels. In the enterprise, Dell's first-quarter server shipments rose 40 percent, more than four times the average of other suppliers, and the company accounted for almost one-third of US server volume. External-storage revenue was up 65 percent. 'Customers are increasingly using clusters of standard servers in place of mainframe computers that rely on costly proprietary technology,' Dell said. 'Standards-based systems are now the better choice for most computing applications, and the trend to such powerful and reliable technology favors our company,' he added.

(CNS)