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How HP is reinventing print

How HP is reinventing print

December 5, 2018

A recent article reveals three ways in which the OEM is “reinventing print for the future workplace.”

As Louella Fernandes writes for Quocirca, HP held its Power of Print event in Palo Alto at the beginning of November, celebrating its third anniversary “as an independent company.”

The company has set its sights on strengthening its market position, “driven by an innovation-led strategy across all its business lines”, and has recently reported that its FY2018 revenue increased from the previous year.

As a result of its leading position in the market, “HP is uniquely positioned to drive innovation”, and its pathway to reinvention has already been bolstered by its successful Instant Ink service and its plans “to increase its market share in the A3 market” via its acquisition of Samsung’s printer arm.

According to Fernandes, “What particularly sets HP apart from its competitors is the breadth and scale of its product portfolio” and “the opportunity it provides HP to resonate with the new generation of users as consumer and work lives continue to blur”.

Quocirca has outlined three ways in which HP’s “industry lead will be reinforced”.

1.By leveraging its services

HP has reported that its Instant Ink service “has delivered 30 percent YoY growth” and the OEM is committed to “developing Instant Ink as a core element of its business strategy.” As well as offering recurring monthly revenue streams, Instant Ink also helps HP to “analyse device usage to develop and sell new products and services.”

Meanwhile, the OEM also “continues to expand and deepen its MPS competencies and seek untapped opportunities in the SMB market”.

2.Reinventing print for both Millennials and Generation Z

According to the article, “Of all the print industry players, HP is uniquely positioned to influence Millennials and Generation Z by virtue of a strong consumer and office product portfolio.”

New releases such as the HP Tango and the Sprocket printer, as well as the OEM’s HP Smart app, are all means of influencing “these younger, smartphone-native generations”.

3.Evolving office printing

Businesses are “accelerating the digitisation of their paper-based processes”. HP’s “core mission in the office is to grow a profitable hardware market share, accelerate profitable contractual growth and transform business printing with new categories and business modes.”

It is HP’s goal to expand its A3 market share to 20 percent by 2020. In addition, the OEM’s HP Roam for Business, its Smart Device services and its JetAdvantage apps are all targeted at improving printing for the future workplace.

As a result of these innovations, writes Fernandes, HP “is clearly on the path to reinventing print across its broad and comprehensive product portfolio” and is “well positioned to lead industry change”.

Categories : Around the Industry

Tags : Business HP Innovation Printing Technology

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