Wednesday, September 30, 2009

HP Combines PC And Printer Units !

According to the report of Wall Street Journal, Hewlett Packard (HP) has planned to a reorganization to look after the company’s printer unit with its personal computer business.
However, these plans depend upon the CEO Mark Hurd’s final approval in order to put both units under the leadership of Todd Bradley who is the chief of the Company’s PC group.

The move should be an about face for the company, because in the year 2005 then CEO Carly Fiorina was looking to boost up the struggling PC business. Therefore, the company’s printer business was so successful for the company. Moreover, last month HP posted an unexpected drop of 19% in profit for the third quarter of the year 2009 and it is the third straight quarter of falling profit.
In the last quarter ended at July 31, PCs earnings were $386 million while the printer business carried $960 million in earnings or 30% of the company’s profits. [ Source ]