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read moreHP combines printer and PC units
Stan Beer
Monday, 17 January 2005 18:30
Hewlett-Packard has combined its printing unit with its personal computer division, helping end speculation that HP would follow competitors in spinning off divisions.
The Mercury News reports (14 Jan) that the move aims to strengthen the company's market position and get new products out faster.
In December, HP chairman Carly Fiorina said the company's board had three times considered breaking up the technology giant, but decided its diversified portfolio of printers, computers, digital cameras, servers and information-technology services helped it weather fluctuations in the cyclical technology sector.
By contrast, IBM sold its PC segment in December because it's margins had become razor thin.
In the fiscal fourth quarter, ended 31 October, HP's printing unit posted operating profit of $US1.1 billion, up 7 percent from a year earlier. Revenue rose 5 percent to $6.5 billion, as HP shipped a record 14 million printers.
The PC group reported quarterly operating profit of $78 million, a gain of more than three times the year-earlier quarter's $22 million. Revenue for the division rose 9 percent to $6.5 billion.
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