Comparing the current results to its competitors, Luxoft Holding Inc reported Revenue increase in the 1 quarter 2018 by 15.43 % year on year. The revenue growth was below Luxoft Holding Inc's competitors' average revenue growth of 49.84 %, achieved in the same quarter.
Luxoft Holding Inc's Comment on Competitors and Industry Peers
The markets in which we compete are changing rapidly and we face competition from
global and Asia-based IT services providers as well as local providers based in
CEE. We believe that the principal competitive factors in our business include
breadth and depth of service offerings, technical expertise and industry knowledge,
reputation and track record for high-quality and on-time delivery of work, effective
personnel recruiting, training and retention, responsiveness to clients' business
needs, ability to scale, financial stability and price. Our industry is split
between low-cost vendors that provide inexpensive, commoditized services and high-cost
vendors that provide specialized and complex services at a premium cost. Our ability
to provide complex, customized services at competitive cost has positioned us
between these two classes of vendors.
We face competition primarily from:
IT service providers in India, such as Cognizant Technology and Infosys;
Global multinational consulting and outsourcing firms such as Accenture, Capgemini
and CSC;
Local CEE technology outsourcing IT service providers such as EPAM; and
In-house IT departments of our clients and potential clients.