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Diebold HMA posts 60% ATM market share in India
February 26, 2002
NEW DELHI, INDIA -- Diebold HMA Ltd., a joint venture between Diebold and HMA Data Systems Ltd. of India, a company involved in ATMs and security products manufacturing, announced that it sold 128 ATMs out of the total of 290 ATMs sold in India during 1998. With this, the company has notched a market share of about 60 percent of the total installed ATM base in India.
"Of the 881 ATMs installed in the country, 507 are Diebold HMA ATMs. ICICI Bank with 50 ATMs and Global Trust Bank with 20 ATMs were the major buyers during 1998," said Harish K. Murthi, managing director of Diebold HMA.
The company is further eyeing a 50 percent growth in 1999, he said. "Although an increasing number of banks are moving toward installing offsite ATMs, India is still lagging behind countries like China and Thailand in terms of the ATM population."
Diebold HMA has indigenized the manufacture of ATMs with local content of about 35 percent, and hopes to increasing it to 60 percent over the next four years, he added.
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