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HP still reliant on Canon

December 8, 2022

HP faces many challenges from non-original supplies and reliance on their agreement with Canon.

In a recently published management discussion and analysis of their financial condition and the results of operations. HP conforms that they continue to source the majority of their A4 and a portion of our A3 portfolio of laser printer engines and laser toner cartridges from Canon.

According to HP: “Any decision by either party to not renew our agreement with Canon or to limit or reduce the scope of the agreement could adversely affect our net revenue from LaserJet products; however, we have a long-standing business relationship with Canon and anticipate renewal of this agreement.”

Another challenge for HP is the competitive environment, “including non-original supplies (which includes imitation, refill, or remanufactured alternatives), and we face component constraints which we expect to continue to negatively impact our financial performance in the short term.”

Addressing these challenges, HP said: “we continue to pursue innovation with a view towards developing new products and services aligned with generating market demand and meeting the needs of our customers and partners.”

Our take on this. HP is the market leader with a 38% market share. The share price is sitting around $28 (€26.7), well below the price Warren Buffet bought in earlier in 2022.

Let’s not forget that HP bought Samsung, which had a 14% market share at the time of purchase. Is the ongoing reliance on the agreement with Canon a sign that hasn’t managed to migrate Samsung technology and, more importantly, customers to HP? If that had, surely their market share would be closer to 50%?

Categories : World Focus

Tags : Business Canon Hardware HP OEM Partnership Samsung Technology

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