Dell Inc.

Company Profile
Publication Date: 17 Sep 2010

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Dell Inc.

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Dell Inc.
TABLE OF CONTENTS

TABLE OF CONTENTS
Company Overview..............................................................................................4 Key Facts...............................................................................................................4 Business Description...........................................................................................5 History...................................................................................................................7 Key Employees...................................................................................................11 Key Employee Biographies................................................................................12 Major Products and Services............................................................................20 Revenue Analysis...............................................................................................21 SWOT Analysis...................................................................................................22 Top Competitors.................................................................................................28 Company View.....................................................................................................29 Locations and Subsidiaries...............................................................................30

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Dell Inc.
Company Overview

COMPANY OVERVIEW
Dell is one of the leading technology companies, offering a broad range of products, including desktop PCs, servers, networking products, storage, mobility products, software and peripherals, and services. The company primarily operates in the US. It is headquartered in Round Rock, Texas and employs 96,000 people including 1,700 temporary employees. The company recorded revenues of $52,902 million during the financial year ended January 2010 (FY2010), a decrease of 13.4% over FY2009.The operating profit of the company was $2,172 million in FY2010, a decrease of 31.9% over FY2009. Its net profit was $1,433 million in FY2010, a decrease of 42.2% over FY2009.

KEY FACTS
Head Office Dell Inc. One Dell Way Round Rock Texas 78682 USA 1 512 338 4400 1 512 283 6161 http://www.dell.com

Phone Fax Web Address

Revenue / turnover 52,902.0 (USD Mn) Financial Year End Employees NASDAQ National Market Ticker January 96,000 DELL

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Dell Inc.
Business Description

BUSINESS DESCRIPTION
Dell designs, develops, manufactures, markets, sells and supports information technology systems and services. The company offers a range of product categories, including mobility products, desktop PCs, software and peripherals, servers and networking, and storage. It provides information technology (IT) and business related services including infrastructure technology, consulting and applications, and business process services. It operates across Americas; Europe, the Middle East and Africa (EMEA), and Asia Pacific regions. During the first quarter of FY2010, the company reorganized its geographic commercial divisions: Americas Commercial, EMEA Commercial, and APJ commercial, to global business units. Its global business divisions include: Large enterprise, public, small and medium business (SMB), and consumer. The large enterprise customer division manages the business from large global and national corporate companies. This division focuses on data center solutions, disruptive innovation, customer segment specialization, and the value chain of design to value, price to value, market to value, and sell to value. The public division handles the companys business from public customers, which include educational institutions, government, health care, and law enforcement agencies, operate in communities. The SMB division focuses on providing small and medium-sized businesses with the simplest and most complete standards-based IT solutions and services, customized for their needs. The consumer division markets the companys products to customers through an on-line store at www.dell.com, over the phone, and through retail. Dells products and services are organized between enterprise solutions and client categories. Enterprise solutions include servers, storage, and related services, software and peripherals. Client solutions include mobility, desktop products, and also related services, software and peripherals. Enterprise solutions The servers and networking offerings include various servers and networking products. Its portfolio includes standards-based PowerEdge line of servers and customized Dell server solutions for very large data center customers. Its also offers PowerConnect switches used to connect computers and servers in small-to-medium-sized networks. Dell offers a portfolio of advanced storage solutions, including storage area networks, network-attached storage, direct-attached storage, disk and tape backup systems, and removable disk backup. Some of its offerings include Dell PowerVault, Dell EqualLogic, and Dell EMC storage systems.

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Dell Inc.
Business Description

Client solutions The mobility portfolio includes notebooks under various lines: The Adamo, Alienware, Studio, Inspiron, Latitude, Vostro and Precision. This portfolio also includes Dell Mini 3 mobile phone, which is powered by the Google Android operating system. The desktop PC division offers various product lines: Allienware, Studio, OptiPlex, Inspiron, Vostro and Precision. The Alienware line of desktop computers targets customers, who needs features ranging from multimedia capability to high performance gaming. The Studio line of compact and stylish consumer desktops includes the Hybrid, the companys power efficient consumer desktop. The OptiPlex line is designed for business, government and institutional customers. The Inspiron line is designed for mainstream PC users requiring the latest features for their productivity and entertainment needs. The Vostro line is designed to provide technology and services to address the specific needs of small businesses. Dell Precision desktop workstations are for professional users, who expect high performance from hardware platforms optimized and certified to run sophisticated applications. The related services from the company comprise infrastructure technology, consulting and applications and business process services. The infrastructure technology includes support services such as warranty services and proactive maintenance offerings; and customers deployment; asset recovery; and recycling services. Consulting services include IT consulting, strategy consulting, enterprise consulting, the implementation of prepackaged software applications, and research. It offers applications development and maintenance services such as developing and maintaining application software; migrating and testing applications systems performing quality assurance functions on custom applications; assessing and evaluating application software; and providing web-based application services. The business process service offerings include claims processing, product engineering, payment and settlement management, life insurance policy administration, services to improve the collection of receivables, and call center management. The software and peripheral offerings comprise of Dell-branded printers and displays as well as third-party peripheral products, including software titles, printers, televisions, laptop accessories, networking and wireless products, digital cameras, power adapters, scanners, and other products. It also provides third-party software products, including operating systems, business and office applications, anti-virus and related security software, entertainment software, and products in various other categories.The company operates Dell Download Store, an online software store for consumers and small-and-medium-sized businesses. In addition to these, Dell also offers various customer financial services for its business and consumer customers in the US through Dell Financial Services (DFS), a wholly-owned subsidiary of Dell. DFS offers a wide range of financial services, including originating, collecting and servicing customer receivables related to the purchase of Dell products. DFS also offers private label credit financing programs through an unrelated, nationally chartered bank, to qualified consumer and commercial customers and offers leases and fixed-term financing to commercial customers.

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Dell Inc.
History

HISTORY
Mr. Michael Dell founded the company as Dell Computer Corporation (Dell) in 1984 to sell personal computer (PC) systems directly to customers. The company introduced the Turbo, its first PC, in 1985. The company made its initial public offering in 1988 and introduced its first notebook PC in 1989. The company opened a manufacturing center in Limerick, Ireland in 1990 to serve the European, Middle Eastern, and African markets. In 1993, Dell expanded its global presence with new subsidiaries in Australia and Japan. Asia Pacific manufacturing center in Malaysia was started in 1996 and it started selling PCs through its website. In the following year, the company introduced its workstation systems. In 1998, Dell expanded its manufacturing facilities in the Americas and Europe, and a year later it opened a second major US location in Nashville, Tennessee and a manufacturing facility in Eldorado do Sul, Brazil to serve Latin America. CovergeNet, a storage hardware and software developer, was acquired by Dell in 1999. PowerApp appliance servers were introduced in 2000. In the same year, Dell was ranked as the worldwide leader in workstation shipments. In the following year, it launched Blade server, Aximx5 handheld and 3100MP projector. The company's name was changed from Dell Computer Corporation to Dell in 2003. In the same year, the company opened its second contact center in Hyderabad, India. In 2004, the company opened a Dell Enterprise Command Center (ECC) in Limerick, Ireland to provide support for server and storage customers in the region. Dell entered into a contract with Bombardier Recreational Products, a snowmobile and watercraft maker, in 2005 to supply technology products and services throughout its global IT network. In the same year, it opened its third US manufacturing location in Winston-Salem, North Carolina. The US Securities and Exchange Commission (SEC) started an investigation into the accounting and financial reporting matters at Dell during the same year. The company planned in 2006 to expand its operations in India by establishing its fourth Indian customer contact centre at Gurgaon, and first India manufacturing facility in the state of Tamil Nadu. In the same year, it acquired Alienware. Later in the year, the company recalled batteries in select models of notebook computers for defects, and the Audit Committee started a parallel investigation into the accounting and financial reporting matters. In the same year, Dell and EMC extended their global alliance for five-year period to offer networked storage solutions for organizations.The company also established a new facility in the Edmonton Research Park housing 1,000 employees.

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Dell Inc.
History

During 2007, Dell established a new global research and development center in Bangalore, India for developing next generation network servers, data-storage systems and software products. It also expanded it operations in Brazil by building a new plant at Hortolandia, Sao Paulo in the same year. Later in the same year, Dell and Bic Camera partnered on retail sales in Japan; and Dell and SAP partnered to simplify information technology for retail operations. Subsequently, Dell partnered with Gome, China's largest consumer electronics retailer, for retail sales in China. The company continued to expand its retail presence in 2007 by entering into retail agreements with DSG International (DSGi), one of Europe's major consumer electronics retailers, and Tesco, an international retailer with operations in Europe and Asia, to make the Dell notebook and desktop computers available in their stores. In 2007, the company acquired several companies including privately-held SilverBack Technologies, a service delivery platform provider for remote monitoring and management of IT infrastructure; privately-held ASAP Software, a provider of software solutions and licensing services and a subsidiary of Corporate Express; privately-held ZING Systems, a consumer technology and services company; EqualLogic, a provider of high-performance iSCSI storage area network (SAN) solutions; and privately-held Everdream, a provider of Software as a Service (SaaS) solutions for remote-service management. Dell launched AX4-5, an entry-level SAN solution in 2008. This solution was designed to meet the growing storage needs of small and medium-sized organizations. The company established its second European manufacturing plant located in Poland. Subsequently, it completed the acquisition of The Networked Storage, an IT consultancy specializing in IT data storage solutions. Dell entered into a partnership with Egenera to offer fully integrated solution for dynamic data center environments. Subsequently, Dell expanded its retail presence in China by adding Suning as retail partner, extending relationship with Gome and launched its products at Hontu, Wuxing, Meicheng, Heng Chang and Heyong stores. Also in 2008, the company completed a $155 million acquisition of MessageOne, one of the industry leaders in SaaS enabled enterprise-class e-mail business continuity, compliance, archiving and disaster recovery services. Dell, Intel and Motion Computing launched a new service to assess, design and validate the quality and coverage of wireless networks to support health care information flow. During the end of 2008, Dell and EMC extended their global alliance through 2013 and added EMC Celerra NX4 storage system to the portfolio of Dell EMC networked storage systems. In January 2009, Dell planned to migrate the production of computer systems for customers in Europe, the Middle East and Africa (EMEA) from Limerick to its Polish facility and third-party manufacturing partners. Subsequently, the company acquired Microsoft IT consulting and solutions segments of Allin. In the same month, Cisco and Dell collaborated to offer next-generation IT solutions in the area of data center infrastructure. According to the agreement, Dell added Ciscos Nexus 5020 switches that support both 10 Gigabit Ethernet and Fibre Channel over Ethernet (FCoE) to its Dell PowerEdge server and Dell EqualLogic, PowerVault, and Dell/EMC storage solutions.

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Dell Inc.
History

In March 2009, Dell launched Adamo brand laptop. In the next month, the company launched end-to-end Mobile Clinical Computing Solution for accessing and organizing patient information within a secure environment; and entered into a strategic alliance with Perot Systems to provide fully-integrated IT solutions to provide virtualized desktop, storage and server solutions for hospitals, health systems and physician practices, virtualized on premises or hosted either off-site or in secure, private clouds. In May 2009, the company introduced 10.1 inch netbook, Latitude 2100, designed for education. Subsequently, the company expanded its enterprise technology portfolio through the launch of flexible and modular virtualization and data center consulting services, business-ready virtualization configurations, new Dell PowerEdge servers and EqualLogic PS4000 storage array. In the following month, it entered into a five-year outsourcing agreement with WellPoint, one of the US health benefits companies, for field support and help desk services through Dell Global Services. During July 2009, the company sold its North American remanufacturing operation in Tennessee to GENCO Supply Chain Solutions, a US based third-party logistics services provider. In September 2009, the company partnered with Brocade to offer customers computing, networking and storage solutions through the Dell global sales organization. The two companies also planned to collaborate on future development around the management and virtualization of next-generation data centers. Subsequently, the company planned to close its customer contact facility in Twin Falls, Idaho. In the same month, Dell and Perot Systems, a provider of information technology services and business solutions, entered a definitive agreement for the company to acquire Perot Systems for approximately $3.9 billion. In October 2009, the company partnered with OPI to launch a new polished laptop collection, including 26 color choices for Dell Inspiron Mini, Inspiron and Studio laptops. Dell and salesforce.com, the enterprise cloud computing company, together launched certified Dell-salesforce.com solutions, joint offerings for small and medium businesses, that offer customer relationship management applications through the cloud. Dell and Juniper Networks signed an agreement to offer networking solutions under Dells PowerConnect brand that enable customers to deploy a common network management platform and network operating system. In November 2009, the company planned to enter smart phone business with Dell Mini 3 smart phones and to distribute them through China Mobile and Claro. The company completed the acquisition of Perot Systems and business was named as Dell Perot Systems. During February 2010, the company announced relationship with INTEGRITY Global Security that enables Dell the exclusive provider of the INTEGRITY separation kernel for general purpose secure computing to government agencies. Subsequently, the company agreed to acquire KACE, a systems management appliance company. The company also completed the purchase of Exanets assets in Israel. The company formed a strategic alliance with Telefonica for a new collaboration to develop next generation communication products and services in April 2010. In the following month, Dell in collaboration with Intel launched a cloud-based learning management platform. And as the new

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Dell Inc.
History

hosting provider for Moodlerooms, a managed, open-source learning management system services provider, Dell will provide education organizations with cloud-based curriculum. In June 2010, Dell teamed with OnLive, a provider of on-demand, instant play video games, to launch the OnLive Game Service. Opera Software, a developer of cross-platform web browser technology, selected Dell to simplify its data center, selecting Dell EqualLogic Storage and Dell PowerEdge Blade Servers. In the following month, the company signed an agreement to acquire Scalent, a private company that provides software for data center infrastructure, and planned to integrate Scalent technology into its Advanced Infrastructure Manager solution. Dell and Microsoft formed a strategic partnership through which Dell plans to use the Windows Azure platform appliance as a part of its Dell Services Cloud to develop and launch next-generation cloud services. Subsequently, the company signed an agreement to acquire Ocarina Networks and its storage optimization technology including compression and deduplication. The company agreed to acquire 3PAR, a global provider of virtualized storage solutions, for $1.15 billion during August 2010. After a series of revised biddings regarding the acquisition of 3PAR, Dell declined to revise the bid and ended its discussions in September 2010.

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Dell Inc.
Key Employees

KEY EMPLOYEES
Name
Michael S Dell James W Breyer Donald J Carty William H Gray Judy C Lewent Klaus S Luft Thomas W Luce Alex J Mandl Shantanu Narayen Samuel A Nunn Ross Perot Peter A Altabef Ronald G Garriques Paul D Bell Stephen J Felice Stephen F Schuckenbrock Brian T Gladden Bradley R Anderson Erin M Nelson Steve H Price Lawrence P Tu Jeffrey W Clarke Ronald V Rose David L Johnson

Job Title
Chairman and Chief Executive Officer Director Director Director Director Director Director Director Director Director Director President, Dell Services

Board
Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Non Executive Board Senior Management

Compensation
963623 USD 704444 USD 276942 USD 291942 USD 292173 USD 276942 USD 276942 USD 276942 USD 452247 USD 276942 USD 450301 USD 17258085 USD 8393132 USD

President, Communication Solutions Senior Management President, Public President, Consumer, Small and Medium Business President, Large Enterprise Senior Vice President and Chief Financial Officer Senior Vice President, Enterprise Product Group Senior Vice President and Chief Marketing Officer Senior Vice President Human Resources Senior Management Senior Management Senior Management Senior Management Senior Management Senior Management Senior Management

8166259 USD

5120111 USD

Senior Vice President and General Senior Management Counsel Vice Chairman, Operations and Technology Senior Vice President Dell.com Senior Vice President Corporate Strategy Senior Management Senior Management Senior Management

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Key Employee Biographies

KEY EMPLOYEE BIOGRAPHIES

Michael S Dell
Board: Executive Board Job Title: Chairman and Chief Executive Officer Since: 2007 Age: 45 Mr. Dell has been the Chairman and CEO at Dell since 2007. He has been the Chairman at Dell since he founded the company in 1984. Mr. Dell served as the CEO at Dell from 1984 to 2004 and resumed that role in 2007. He serves on the foundation board at the World Economic Forum, the executive committee of the international business council and is a member of the US business council. He also serves on the US President's council of advisors on science and technology and the governing board of the Indian School of Business in Hyderabad, India.

James W Breyer
Board: Non Executive Board Job Title: Director Since: 2009 Age: 48 Mr. Breyer has been a Director at Dell since April 2009. He has been an investor in over thirty consumer internet, media, and technology companies that have completed public offerings or successful mergers. Prior to his joining Accel in 1985, Mr. Breyer worked as a Management Consultant at McKinsey and in product marketing and management at Apple and Hewlett Packard.

Donald J Carty
Board: Non Executive Board Job Title: Director Since: 1992 Age: 63 Mr. Carty has been a Director at Dell since 1992. He also served the company as the Vice Chairman and Chief Financial Officer from 2007 to 2008. Before joining Dell, Mr. Carty retired in 2003 as the Chairman and CEO at AMR and American Airlines. He had served in that position since 1998. Prior to that, Mr. Carty served as the President at AMR Airline Group and American Airlines. Between 1989 and 1995, Mr. Carty was the Executive Vice President, Finance and Planning at AMR and American Airlines. He had been American's Senior Vice President and Controller before leaving

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Key Employee Biographies

the airline in 1985 to become the President and CEO at CP Air in Canada. In 1987, Mr. Carty returned to American and was elected the Senior Vice President, airline planning. Before joining American, he spent seven years in various management positions with Celanese Canada, Air Canada, and the Canadian Pacific Railway.

William H Gray
Board: Non Executive Board Job Title: Director Since: 2000 Age: 68 Mr. Gray has been a Director at Dell since 2000. He was the former President and CEO at United Negro College Fund from 1991 to 2004. Mr. Gray was the senior minister at the Bright Hope Baptist Church in Philadelphia from 1972. From 1979 to 1991, he served as a US Congressman from Pennsylvania.

Judy C Lewent
Board: Non Executive Board Job Title: Director Since: 2001 Age: 61 Ms. Lewent has been a Director at Dell since 2001. Until 2007, she served as the Executive Vice President and Chief Financial Officer and President, Human Health Asia at Merck & Co. Ms. Lewent also held various other financial and management positions since joining Merck in 1980. She is also a Director at Motorola and Thermo Fisher Scientific. Ms. Lewent is a Trustee and the Chairperson of the audit committee of the Rockefeller Family Trust, a life member of the Massachusetts Institute of Technology and a member of the American Academy of Arts and Sciences.

Klaus S Luft
Board: Non Executive Board Job Title: Director Since: 1995 Age: 68 Mr. Luft has been a Director at Dell since 1995. Since 1990, he has served as the Vice Chairman and International Advisor at Goldman Sachs Europe. From 1986 to 1989, Mr. Luft was the CEO at Nixdorf Computer, where he served for more than 17 years in a variety of executive positions in marketing, manufacturing and finance. He is the Honorary Consul of the Republic of Estonia in the State of Bavaria.

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Key Employee Biographies

Thomas W Luce
Board: Non Executive Board Job Title: Director Since: 2006 Age: 69 Mr. Luce has been a Director at Dell since 2006. He is also the President and CEO of the National Math and Science Initiative. Mr. Luce was the United States Assistant Secretary of Education for Planning, Evaluation and Policy Development from 2005 until his resignation 2006. From 1997 until 2005, he was a partner of the business advisory firm Luce & Williams. Before then, Mr. Luce was a founding partner and managing partner of the law firm at Hughes & Luce from 1973 until his retirement from the firm in 1997, and was Of Counsel with that law firm until 2003. From 1991 to 1992, Mr. Luce was the Chairman and CEO at First Southwest, a Dallas-based investment firm that is a member of the National Association of Securities Dealers.

Alex J Mandl
Board: Non Executive Board Job Title: Director Since: 1997 Age: 66 Mr. Mandl has been a Director at Dell since 1997. From 2006 to 2007, he served as the Executive Chairman at Gemalto. Before 2006, Mr. Mandl was the President, CEO and a member of the Board of Directors at Gemplus since 2002. He has served as Principal at ASM Investments, a company focusing on early stage funding in the technology sector since 2001. From 1996 to 2001, Mr. Mandl was the Chairman and CEO at Teligent. Mr. Mandl was AT&T's President and Chief Operating Officer from 1994 to 1996, and its Executive Vice President and Chief Financial Officer from 1991 to 1993. From 1988 to 1991, he was the Chairman and CEO at Sea- Land Services.

Shantanu Narayen
Board: Non Executive Board Job Title: Director Since: 2009 Age: 47 Mr. Narayen has been a Director at Dell since 2009. He is the President and CEO at Adobe Systems. Prior to his appointment as the CEO in 2007, Mr. Narayen was Adobes President and Chief Operating Officer. Previously, he held key product research and development positions within Adobe, including the Executive Vice President of worldwide products, Senior Vice President of worldwide product

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Key Employee Biographies

development, and Vice President And General Manager of the engineering technology group. Before joining Adobe in 1998, Mr. Narayen was a Co-founder of Pictra. Prior to that, he served as the Director of desktop and collaboration products at Silicon Graphics and held various senior management positions at Apple Computer.

Samuel A Nunn
Board: Non Executive Board Job Title: Director Since: 1999 Age: 71 Mr. Nunn has been a Director at Dell since 1999. He retired from the law firm King & Spalding in 2003. From 1972 through 1996, Mr. Nunn served as a US Senator from Georgia. During his tenure as Senator, he served as the Chairman of the Senate Armed Services Committee and the Permanent Subcommittee on Investigations. Mr. Nunn also served on the Intelligence and Small Business Committees.

Ross Perot
Board: Non Executive Board Job Title: Director Since: 2009 Age: 51 Mr. Perot has been a Director at Dell since 2009. He is the Chairman at Hillwood, which he founded in 1988. He is also a founder of Perot Systems and served on its board of directors beginning in 1988. Mr. Perot served as the Chairman of the board from 2004 until the company was acquired by Dell in 2009. After graduating from Vanderbilt University, Mr. Perot served in the United States Air Force for eight and half years. He then served as the Chairman of the Air Force Memorial Foundation. From 2002-2003, Mr. Perot served as the Chairman of the Governors Task Force for Economic Growth.

Peter A Altabef
Board: Senior Management Job Title: President, Dell Services Since: 2009 Age: 50 Mr. Altabef has been the President at Dell Services since 2009. He joined Dell with Dells acquisition of Perot Systems in November 2009. From 2004 to November 2009, he was the President and CEO at Perot Systems. Before joining Perot Systems in 1993, Mr. Altabef was a Partner in the law firm

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Key Employee Biographies

at Hughes & Luce. He previously practiced law in New York and served as a law clerk to the United States Court of Appeals for the Fifth Circuit.

Ronald G Garriques
Board: Senior Management Job Title: President, Communication Solutions Since: 2009 Age: 46 Mr. Garriques has been the President, Communication Solutions at Dell since 2009. He joined Dell in 2007 as the President, Global Consumer Group. Prior to joining Dell, Mr. Garriques served in various leadership roles at Motorola. He was most recently responsible for the Mobile Devices division. Mr. Garriques also was the Senior Vice President and General Manager of the Europe, Middle East and Africa region for personal communications services division. He also served as the Senior Vice President and General Manager of worldwide product line management at PCS. He also held management positions at AT&T Network Systems, Lucent Technologies and Philips Consumer Communications.

Paul D Bell
Board: Senior Management Job Title: President, Public Since: 2009 Age: 49 Mr. Bell has been the President, Public at Dell since January 2009. Prior to current appointment, he was the Senior Vice President and President for Americas at Dell. Prior to that role, Mr. Bell served as the Senior Vice President of Europe, Middle East and Africa. Previously, he was the Senior Vice President and General Manager of the Worldwide Home and Small Business Group. Before joining Dell in 1996, Mr. Bell was a consultant with Bain and Company.

Stephen J Felice
Board: Senior Management Job Title: President, Consumer, Small and Medium Business Since: 2009 Age: 52 Mr. Felice has been the President, Small and Medium Business at Dell since January 2009. Prior to current position, he was the Senior Vice President and President of Dell Asia-Pacific/Japan operations. Prior to that, Mr. Felice was the Vice President, Corporate Business Group, Dell Americas. Previously, he held various executive roles in Dell's sales and consulting services organizations.

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Key Employee Biographies

Mr. Felice joined Dell in 1999 from DecisionOne, where he served as the CEO and President. He was also with worked for Bell Atlantic and served as the Vice President of planning and development, with Bell Atlantic Customer Services. Mr. Felice spent five years at Shell Oil in Houston.

Stephen F Schuckenbrock
Board: Senior Management Job Title: President, Large Enterprise Since: 2009 Age: 49 Mr. Schuckenbrock has been the President, Large Enterprise at Dell since January 2009. Prior to current appointment, he was the Senior Vice President and President, Global Services, and Chief Information Officer at Dell. Prior to joining Dell, Mr. Schuckenbrock served as the Co-Chief Operating Officer and Executive Vice President of global sales and services at EDS. Before joining EDS in 2003, he was Chief Operating Officer at The Feld Group, an IT consulting organization. Mr. Schuckenbrock was the Chief Information Officer at PepsiCo from 1998 to 2000. He was also the global Chief Information Officer at Frito-Lay from 1995 to 1998.

Brian T Gladden
Board: Senior Management Job Title: Senior Vice President and Chief Financial Officer Since: 2008 Age: 45 Mr. Gladden has been the Senior Vice President and Chief Financial Officer at Dell since 2008. Prior to joining Dell in 2008, he was the President and CEO at SABIC Innovative Plastics Holding. Prior to joining SABIC Innovative Plastics, Mr. Gladden was with General Electric (GE) for nearly 20 years in various financial and management leadership roles. He served as the Vice President and General Manager of GE Plastics' resin business; Chief Financial Officer at GE Plastics; and Vice President and Chief Financial Officer at GE Medical Systems Healthcare IT business during his career with the company. He was named a GE corporate officer in 2002 while Chief Financial Officer at GE Plastics and had formerly served on GE's corporate audit staff for five years.

Bradley R Anderson
Board: Senior Management Job Title: Senior Vice President, Enterprise Product Group Since: 2009 Age: 50 Mr. Anderson has been the Senior Vice President, Enterprise Product Group at Dell since January 2009. Prior to current position, he was the Senior Vice President of Business Product Group. Prior

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Key Employee Biographies

to joining Dell in 2005, Mr. Anderson was the Senior Vice President and General Manager at Hewlett Packard's industry standard servers business. Previously, he was the Vice President of server storage and infrastructure at HP. Before joining HP in 1996, Mr. Anderson held top management positions at Cray Research in executive staff, field marketing, sales, finance and corporate marketing.

Erin M Nelson
Board: Senior Management Job Title: Senior Vice President and Chief Marketing Officer Since: 2009 Age: 40 Ms. Nelson has been the Senior Vice President and Chief Marketing Officer at Dell since January 2009. Before becoming Chief Marketing Officer, she spent three years in Europe, most recently as the Vice President of marketing for Dells business in Europe, the Middle East and Africa. Since joining Dell in 1999, Ms. Nelson has held leadership positions in US consumer marketing, US public sales, EMEA home and small-business marketing, as well as eBusiness. Prior to joining Dell, she held positions in brand management at Procter & Gamble, corporate strategy at PepsiCo, and as a management consultant at A.T. Kearney.

Steve H Price
Board: Senior Management Job Title: Senior Vice President Human Resources Mr. Price is the Senior Vice President, Human Resources at Dell. He has been with Dell for more than 13 years and has served in leadership roles throughout the HR organization, including the Vice President of HR for the global Consumer business, Global Talent Management and Americas Human Resources. Prior to joining Dell in 1997, Mr. Price spent 13 years at SC Johnson Wax. Having started his career at SC Johnson Wax in sales, he later moved into HR, where he held a variety of senior positions.

Lawrence P Tu
Board: Senior Management Job Title: Senior Vice President and General Counsel Since: 2004 Age: 55 Mr. Tu has been the Senior Vice President and General Counsel at Dell since 2004. Previously, he was the Executive Vice President and General Counsel at NBC Universal. Mr. Tu was a partner at O'Melveny & Myers, including five years as managing partner at the firm's Hong Kong office. He was also the General Counsel Asia Pacific for Goldman Sachs, an attorney for the US State Department and a clerk for US Supreme Court Justice Thurgood Marshall.

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Key Employee Biographies

Jeffrey W Clarke
Board: Senior Management Job Title: Vice Chairman, Operations and Technology Since: 2009 Age: 47 Mr. Clarke has been the Vice Chairman, Operations and Technology at Dell since January 2009. He joined Dell in 1987 as a Quality Engineer and has served in a variety of engineering and management roles. Mr. Clarke moved into product development in 1989 and was promoted to Director of desktop development in 1995. In 1997, he was responsible for launching Dell's Precision Workstation product line. Subsequently, Mr. Clarke was the Vice President and General Manager, Relationship Product Group. Prior to joining Dell, he was a reliability and product engineer at Motorola.

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Dell Inc.
Major Products and Services

MAJOR PRODUCTS AND SERVICES

Dell designs, develops, manufactures, markets, sells and supports various information technology systems and services. The company's key products and services include the following: Products: Desktop personal computers Workstations MP3 players Notebook PCs Software Printers Displays Networking products Storage devices Servers Smartphones Services: Infrastructure technology services Consulting and application services Business process services Assessment, design and implementation services Deployment services Training and certification services Support services Managed lifecycle services Financial services Brands: Alienware Dimension Inspiron Latitude OptiPlex Precision Vostro XPS PowerEdge PowerConnect

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Revenue Analysis

REVENUE ANALYSIS
Dell The company recorded revenues of $52,902 million during the financial year ended January 2010 (FY2010), a decrease of 13.4% over FY2009. In FY2009, the US, the company's largest geographic market, accounted for 51.7% of the total revenues. During the first quarter of FY2010, the company reorganized its geographic commercial divisions to global business units. Dell generates revenues through four global business divisions: Large enterprise (27% of the total revenues in FY2010), public (27.4%), small and medium business (22.8%), and consumer (22.8%). Revenues by Division In FY2010, the large enterprise division recorded revenues of $14,285 million, a decrease of 20.7% over FY2009. The public division recorded revenues of $14,484 million in FY2010, a decrease of 5.6% over FY2009. The small and medium business division recorded revenues of $12,079 million in FY2010, a decrease of 18.9% over FY2009. The consumer division recorded revenues of $12,054 million in FY2010, a decrease of 6.3% over FY2009. Revenues by Geography The US, Dell's largest geographical market, accounted for 53% of the total revenues in FY2010. Revenues from the US reached $28,053 million in 2010, a decrease of 11.1% over FY2009. Foreign countries accounted for 47% of the total revenues in FY2010. Revenues from foreign countries reached $24,849 million in 2010, a decrease of 15.9% over FY2009.

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SWOT Analysis

SWOT ANALYSIS
Dell is one of the leading providers IT systems in the world. The company offers a broad range of products, including desktop PCs, servers and networking products, storage solutions, mobility products, software and peripherals, and related services. Dell has a strong brand value and is among the top 100 global brands. Strong brand value enhances the companys market penetration capability and provides cross selling opportunities. However, intense completion in the technology industry may affect the companys profitability in coming years. Strengths Strong brand value Robust market position Diversified customer base Dell Perot Systems position in healthcare business Opportunities Entry into smartphone business Growing PC market Positive outlook for global IT spending Increasing adoption of cloud computing services Weaknesses Violation of laws Relatively weak R&D capabilities

Threats Intense competition Product defects

Strengths

Strong brand value Dell enjoys a strong brand image supporting its growth. The company is among the top 100 brands in the world, with a brand value of $10,291 million, according to Interbrand annual ranking 2009. It was ranked 35 in the list of top 100 brands. Dell was ranked ahead of some of its competitors such as Acer, Toshiba and Lenovo. Moreover since FY2008, Dell started offering products through indirect sales, such as leading retail chain stores. It offers select products through strategic relationships with a various major retailers like Wal-Mart and Best Buy in the US; Wal-Mart and Pontofrio in Latin America; Carphone Warehouse, Carrefour, Tesco and DSGi in EMEA region; and Gome, HiMart, Courts and Bic Camera in Asia Pacific region. With its entry into indirect sales channel model, Dells visibility among the individual customer in the retail space is increasing, which further increases its brand value.

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SWOT Analysis

Dell's brand image generates a large percentage of intangible earnings. Strong brand image makes Dell a preferred hardware provider over its competitors. In addition, strong brand image promotes greater trust in the company's product and services, which boosts the demand for them. Robust market position Dell has a robust market presence in IT systems market. Despite losing market share to other players in the recent past, Dell continues to remain a strong player in the IT systems market. Dell was the second largest player in the in the worldwide PC market with approximately 13.1% share, with the volume shipments of 38.4 million in 2009. In the US, the company is the second leading player in PC market with approximately 11.9% market share of the volume shipments in 2009. Moreover, the company achieved the number one position in the rapidly developing Indian PC market, surpassing Hewlett-Packard during the second quarter of 2010 with a market share of 15.2%. It is also a leading player in the computer peripheral equipment and software wholesaler market. According to the industry sources, the company is also the fourth largest player in the worldwide disk storage systems market with a market share of over 12.3% during the second quarter of 2010. The company is the leading player in the NAS domain with share of 32.9%. Further, Dell is the third largest player in the worldwide servers' segment with a market share of approximately 15.3%. Dell's strong market position in the IT systems market provides it with a competitive advantage. Diversified customer base Dell serves a diversified customer base globally.The company offers a range of IT products including mobility products, desktop PCs, software and peripherals, servers and networking, and storage to a wide customer base, which ranges from large scale businesses to small organizations of various sectors. It provides customized products to all size of clients according to their needs.The companys customers are categorized as: large enterprise, public, small and medium business (SMB), and consumer. The companys large enterprise customers include the business from large global and national corporate companies. The public customers comprises of educational institutions, government, health care, and law enforcement agencies, operate in communities. For SMBs, the company offers the simplest and most complete standards-based IT solutions and services, customized for their needs. For consumers, the company markets products through an on-line store at www.dell.com, over the phone, and through retail. Wide range of customer base provides the company with diversified revenue streams. During FY2010, the company generated 27% of the total revenues from large enterprise, 27.4% from public clients, 22.8% from SMBs, and 22.8% from consumers. Diversified revenues from wide range of customers shields the company against demand fluctuations in a specific market by dispersing its business risks. Dell Perot Systems position in healthcare business

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SWOT Analysis

Dell Perot Systems is a leading provider of healthcare IT services in the US. The company provides services to more than 1,000 hospitals and five of the top 25 systems in the US. It serves about 70 health insurance organizations and more than 30,000 doctors as members of physician groups. It is a leading systems integrator of Tier I clinical systems. The company's healthcare business was also recognized by several agencies for its capabilities. In May 2010, it was ranked number one for the fourth consecutive year in Annual Datamonitor Black Book of Outsourcing 2009 survey of Healthcare ITO vendors. The survey positioned Dell Perot Systems as the highest rated overall vendor in the areas of applications development and maintenance, revenue cycle management, and clinical data initiatives. Dell Perot Systems strong position in healthcare IT segment provides a competitive advantage to the company and allows it to achieve new contracts.

Weaknesses

Violation of laws Dell was involved in the violation of federal securities laws and is paying the civil penalties. A complaint was filed against the company alleging that Dell and some of its staff have violated the federal laws. The company also faced investigations from the US Securities and Exchange Commission (SEC) regarding these violations including the antifraud provisions of federal securities laws, relating to certain accounting and financial reporting matters during 200106.The company also faced allegations regarding certain aspects of its commercial relationship with Intel. As a part of this, the company reached a settlement with SEC resolving the investigations during June 2010. Under its settlement, the company has consented to a permanent injunction against future violations of such federal securities laws and SEC rules. The company also agreed to perform certain undertakings, including retaining an independent consultant, to enhance its disclosure processes, practices and controls. According to the settlement, the company is required to pay a civil monetary penalty of $100 million. Also Mr. Michael S Dell, the Chairman and CEO of Dell, has to pay a penalty of $4 million regarding the alleged failure to provide adequate disclosures with respect to the companys commercial relationship with Intel prior to Fiscal 2008. Violation of laws, investigations and paying penalties impacts the companys reputation and affects the investors confidence. Relatively weak R&D capabilities Dell has relatively weak research, development and engineering (R&D) capabilities compared to its major competitors. The company employs a collaborative approach to product design and development, where it works with a network of technology companies. It uses original design manufacturing (ODM) partnerships and manufacturing outsourcing relationships for manufacturing.

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SWOT Analysis

However, it undertakes essential manufacturing processes including assembly, software installation, functional testing and quality control. As a result, the companys R&D spending has been lower than its competitors. Dells R&D expenses were $624 million, $663 million, and $610 million, respectively, during FY2010, FY2009 and FY2008. By contrast, its main competitors such as HP reported R&D spending of $2,819 million, $3,543 million, and $3,611 million, respectively, in FY2009, FY2008, and FY2007; and IBM reported R&D spending of $5,820 million, $6,337 million and $6,153 million, respectively, in FY2009, FY2008 and FY2007. Furthermore, the companys R&D spending as percentage of total revenues was 1.2% in FY2010, compared to HP (3%), and IBM (6.1%). As a result, the company had lesser patents than its competitors. At the end of FY2010, it had a worldwide portfolio of 2,577 patents and additional 2,418 patent applications pending. By contrast, HP had a worldwide portfolio of over 33,000 patents, and IBM achieved over 4,914 patents only in 2009. Although, the companys business model was not highly dependent on R&D over years, changing industry dynamics with increasing competition and commoditization of PC market call for differentiation though innovation. Further more, the companys relatively weak R&D makes it depend on licenses for third-party patents, and it may affect its ability to introduce innovative products. Dells relatively weak R&D capabilities affect its competitiveness as well as make it dependent on third parties for patent licenses.

Opportunities

Entry into smartphone business Dell has entered into the smartphone business with the launch of Dell Mini 3 smart phones in November 2009. The company also partnered with China Mobile, the largest telecommunications company in the world with more than 500 million customers; and Claro, which serves more than 42 million people in Brazil as part of the America Movil network, to distribute its smartphone offerings. Further, the company also formed smartphone agreement with AT&T as a carrier to offer Dell Mini 3 smart phone in January 2010. The companys entry into the smartphone business demonstrates its continued expansion into mobile internet products. Moreover, the smart phone market is projected to grow significantly, poising the growth opportunities to Dell. According to the industry sources, the smartphone market is forecast to grow at a compounded annual rate (CAGR) of 32% between 2010 and 2014. More than 50% of this growth in handsets is forecast to come from the developing markets of Asia-Pacific, including China and India, and Central and Latin American states. Also, the smartphones are expected to represent 26% of all handsets in 2014, compared to 14% in 2009. The companys expansion into growing smartphone business will provide it with additional revenues.

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SWOT Analysis

Growing PC market The global PC market is expected to grow in the coming years. According to the industry sources, the global PC market is forecast to record a growth of 20% in terms of volume in 2010, compared to 2009. The demand is being driven by increased customer adoption and the growth of netbooks. The netbook market is expected to record 25% growth in shipments in 2010, over 2009. In addition, the Asia Pacific PC market is expected to grow significantly, both China and Indian markets driving the demand. The PC shipments in China and India are forecast to grow around 20% during 2010. The company is the second largest player in the worldwide PC market, offering desktop PCs and notebooks under various brands: Allienware, Studio, OptiPlex, Inspiron, Vostro and Precision. Further, the company is investing in the emerging BRIC regions including Brazil, Russia, India, and China to design and manufacture products and support its customers. Growing PC demand and the companys focus on emerging markets ensures steady revenues to the company from PC segment. Positive outlook for global IT spending The global information technology (IT) spending is expected to grow in the near future. A steady improvement in the macroeconomic environment in 2010 will enable modest growth in overall IT spending. According to Datamonitor, the global IT hardware and equipment is projected to record a CAGR of 6.3% during 200914. Further, the global IT consulting and other services market is forecast to grow at a CAGR of 2.4% during 200914. Being one of the leading provider of mobility products, desktop PCs, software and peripherals, servers and networking, storage and IT services, Dell is poised to capitalize on the global IT positive outlook. Increasing adoption of cloud computing services The worldwide demand for cloud computing services is forecast to record strong growth in coming years. Cloud computing is a computing infrastructure model, which enables delivery of software-as-a-service (SaaS), platform-as-a-service (PaaS) and infrastructure-as-a-service (IaaS). This reduces the upfront royalty or licensing payments, investment in hardware and other operating expenses. As result of its benefits, the global cloud computing services market is forecast to grow at a CAGR of over 20% during 200914. With the growth of cloud computing services, the enterprises are expected to gain significant savings from SaaS, PaaS and IaaS during the next five years. Dell is increasing its presence in cloud environments and also launched new offerings in this domain. In 2009, Dell and salesforce.com, the enterprise cloud computing company, together launched certified Dell-salesforce.com solutions, joint offerings for small and medium businesses, that offer

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SWOT Analysis

customer relationship management applications through the cloud. Further, Dell in collaboration with Intel launched a cloud-based learning management platform during May 2010. As a part of expanding its cloud strategy, Dell formed a strategic partnership with Microsoft to use the Windows Azure platform appliance as a part of its Dell Services Cloud for developing next-generation cloud services. The companys focus on cloud computing services will enhance its revenue and market share in coming years.

Threats

Intense competition The company faces intense competition in all its business segments. It competes in terms of price, quality, brand, technology, reputation, distribution and range of products, among other factors. Dell faces stiff competition in enterprise PC and server markets from Acer, Apple, HP, Lenovo, IBM and Toshiba, among others. In some regions, the company faces competition from local companies and from generically-branded or white box manufacturers. In the consumer market, Dell faces stiff competition from HP, Acer, Apple, Sony, Lenovo and Asustek. Furthermore, in the European and Asian netbooks markets the company faces intense competition from Asustek. In addition, with the launch of smartphone in FY2010, the companys mobile business competes with Apple, RIM, and HTC. Intense competition may affect the companys operating performance and market share in coming years. Product defects Dell's products are highly complex and sophisticated. As a result, they may occasionally contain design defects, software errors or security problems that may be difficult to detect and correct. In addition, implementation of the company's products may involve customer-specific configuration. In particular, it is common for complex hardware products to contain undetected errors when first released. They are discovered only after the product is used over time with different systems and in a variety of applications and environments. Despite extensive testing before release, the company may experience errors in the products, which may affect the market acceptance of the products. For instance, the company faced product defect issues and recalled several products in the recent past owing to quality issues. In August 2006, the company announced the recall of 4.1 million notebook batteries owing to fire risk. Additionally, in October 2008, Dell updated its battery-replacement program based on additional information it received from lithium-ion battery supplier, Sony. Product defects resulting in recalls may undermine the faith of consumers in the products, benefiting the competitors of the company.

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Top Competitors

TOP COMPETITORS

The following companies are the major competitors of Dell Inc.

Hewlett-Packard Company International Business Machines Corporation NEC Corporation Toshiba Corporation Lenovo Group Limited Acer Inc. Hitachi, Ltd. Samsung Electronics Co., Ltd. Sony Corporation Apple Inc. ASUSTeK Computer Inc.

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Company View

COMPANY VIEW
An excerpt from the Managements discussion and analysis of financial condition and results of operations section of 10-K is given below. The statement has been taken from the companys 10-K filing for FY2010. -----------------------------------------------------------------------------------------------------------------In Fiscal 2010, our overall net revenue decreased year-over-year due primarily to the global economic slowdown that began during the second half of Fiscal 2009. The weakened economy continued to impact the IT spending of our Commercial customers, which accounted for 77% of our overall revenue for Fiscal 2010. Our Consumer segment experienced significant unit demand growth year-over-year, but a mix shift to lower-priced products and competitive pricing pressures resulted in a decrease in Consumer revenue and profitability. During the second half of Fiscal 2010, the IT industry started to see signs of economic recovery, and as a result, our unit shipments during the fourth quarter of Fiscal 2010 improved year-over-year for all of our segments. Overall, we have seen indications of strengthening demand in the Commercial segments and continued growth in the Consumer segment, and we believe that, as the global economy continues to recover, our revenue in Fiscal 2011 should improve relative to Fiscal 2010. During Fiscal 2010, we focused on balancing liquidity, profitability, and growth by emphasizing areas that provided profitable growth opportunities. We also took actions in this challenging demand environment to shift towards a more variable cost manufacturing structure, reduce operating expenses, and improve our working capital management. We are beginning to see the positive impact of these efforts and expect that the benefits of our strategy will carry into Fiscal 2011, with anticipated enhanced operating leverage should revenue growth return. We will continue to work on additional cost reduction and efficiency efforts. We will continue to focus our efforts on providing best-value solutions to our customers in all areas of enterprise, including servers, storage, services, and software. We believe these solutions are customized to the needs of users, easy to use, and affordable. During the fourth quarter of Fiscal 2010, we acquired Perot Systems, a worldwide provider of information technology and business solutions, and we expect to increase our portfolio of solutions offerings to our customers. Additionally, we will continue our overall strategy of seeking to balance profitability and liquidity with revenue growth. ------------------------------------------------------------------------------------------------------------------

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Locations and Subsidiaries

LOCATIONS AND SUBSIDIARIES

Head Office
Dell Inc. One Dell Way Round Rock Texas 78682 USA P:1 512 338 4400 F:1 512 283 6161 http://www.dell.com

Other Locations and Subsidiaries

Dell - Canada 155 Gordon Baker Road Street 501 North York Ontario M2H 3N5 CAN Dell - Japan Solid Square Building Higashikan 20f 580 Horikawacho Saiwai-Ku, Kawasaki Kanagawa 212-0013 JPN Dell Asia Pte. Ltd. Divyasree Greens Ground Floor S.No. 12/1, 12/2A, 13/1A Challaghatta Village Varthur Hobli Bangalore IND Dell - UK Milbanke House Western Road Bracknell, Berkshire Berkshire GBR Dell - Asia 180 Clemenceau Avenue 06 01 Haw Par Center Singapore 239922 SGP

Dell Australia Pty Limited Building 3 14 Aquatic Drive Frenchs Forest New South Wales 2086 AUS

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