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HP sets out investment plans for Chinese market

HP sets out investment plans for Chinese market

May 11, 2012

”]CEO Meg Whitman visited Shanghai to confirm that the company will “invest heavily” in the market to increase its market share and build more printers in the country.

The release of the OEM’s newest printers, reported earlier this week, took place in Shanghai at the OEM’s Global Influencer Summit, with Todd Bradley, HP’s Executive Vice President of the Printing and Personal Systems Group (PPSG), unveiling the new range.

Whitman visited China earlier in the month, and China Daily reports that she reiterated her pledge that “HP is proud of being a hardware maker”, after dismissing previous CEO Leo Apotheker’s move towards software provision at the expense of hardware manufacturing.

Whitman stated that HP is “a hardware company […] 70 percent of our sales revenue comes from hardware, and we are proud of it”. However, the news outlet notes that the company’s software division has the highest year-on-year growth of its business, with 30 percent.

In her visit to China, Whitman visited Beijing and Chongqing in addition to Shanghai in a bid to “pave the way for HP’s future expansion in China”, including a printer factory in Chongqing. This latest factory will build on the pre-existing base there, which produces over four million devices each year, and which “has the potential to eventually produce 30 million printers annually”.

 China Daily added that 90 percent of the company’s inkjet printers and 70 percent of its laser devices are manufactured in China already, and noted that the key part of the plan appears to be “recruiting more talent and investing heavily in research and development”.

Whilst the OEM has had a presence in China for 27 years, its market share has fallen in the previous two years, and Todd Bradley stated that the company is looking to “gain a larger share […] by investing more in its business for commercial customers”, adding: “We are positioned to deliver innovation in the future for customers in China and everywhere else around the globe.”

Categories : Products and Technology

Tags : Business China HP

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