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The technology sector posted positive year-over-year growth of 3% in the Q2 2015, but declined 0.9% quarter over quarter.
Services remained the growth driver as most companies experienced sharp declines in product revenue.
Significant transformational activities continued for tech companies in the second quarter with company announcements of strategic acquisitions, write-offs and impairments related to suboptimal assets, and restructuring of operations.
The global software market is experiencing an influx of new vendors in the Internet of Things (IoT) space. IoT is turning many manufacturers of “things” into first-time software vendors.
Economically the quarter was marked by contrasts. The US continued to record slow economic improvement but Chinese stocks, which were thought to be overvalued, headed for a price correction on June 12th. These events were strongly reflected in the Volatility index range of 12.85 to 18.23.