HCL Infosystems is phasing off its manufacturing business over the next three years as part of a company-wide restructuring that will lead to it focusing more on services and distribution verticals, reports Economic Times. The company has been struggling in the market and it had reported a 41.7% decline in its standalone net profit to Rs 1.48 crore for the quarter ended September 30, 2013 from Rs 2.54 crore from the same period last year. The standalone net sales of the firm declined by 32 per cent to Rs 1,593.48 crore in July-September this fiscal against Rs 2,341.68 crore in the same quarter of 2012-13 fiscal. Hindustan Computers Ltd (HCL) was formed in 1976. It was a top PC brand in the country before losing ground to foreign players like Lenovo, HP and Dell. The HCL Group is a $ 6.3 billion enterprise comprising two listed companies listed -- HCL Technologies and HCL Infosystems. HCL Infosystems has transferred its solutions, services and learning business to wholly owned subsidiaries --- HCL Infotech, HCL Services, and HCL Learning. HCL Infosystems CEO and Managing Director Harsh Chitale said that the company will continue the PC distribution and after-sale service. "My distribution today does lot of distribution of PCs of multiple brands... We will be in PC distribution and in after sales services but will not manufacture HCL branded products for some time," he told PTI. The PC business accounts for about 8% of HCL Infosystem's overall revenues and has been under pressure for some…
