Hewlett Packard saw a growth of 10% in the PC sales for the third quarter and PC sales dwarfed that of printers by big margins.
Bloomberg reported that the company’s fourth-quarter net income dropped 2.4 percent to $2.11 billion, or 84 cents a share, from $2.16 billion, or 81 cents, a year earlier. The company had an 18 percent share in PC shipments whereas Dell was trailing behind at 14 percent, the news service added, citing research firm Gartner Inc.
PC revenues topped $11.0 billion while around $7.5 billion were earned in printer revenues. Additionally, the company has a strong outlook despite the current financial crisis.
The acquisition of Electronic Data Systems and the popularity/affordability of economical notebooks are some of the reasons behind the improved sales of the company.
Adding a local note, HP is also a favorite brand in Pakistan but the huge devaluation of Pakistani Rupee resulted in an increase in prices but decrease in sales. Even a simple HP520 and HP530 are now above the range of a low-to-medium income professional. Dealers are reluctant to cut prices but as a result are also suffering setbacks because of low sales.