HP Inc Innovate and reinvent

Laptops and PCs have become an integral part of working, learning, and entertainment and HP hopes to reinvent how consumers approach work and leisure

The 2022 PCQuest Enterprise Choice Awards has familiar names leading the scorecard when it comes to PCs, laptops, and commercial PC. HP is holding the first spot in commercial PCs and first runner-up in the laptop category.

The company a product and service portfolio of personal systems, printers, and 3D printing solutions saw estimated revenue growth at Rs 2,35,235 Million for the year 2021-2022, a 12 % growth over last year.

Global Report

As per the global fiscal report 2021 – HP Inc. and its subsidiaries (“HP”) announced fiscal 2021 net revenue of $63.5 billion, up 12.1% (up 10.2% in constant currency) from the prior-year period. Fiscal 2021 net cash provided by operating activities of $6.4 billion1, free cash flow of $4.2 billion. GAAP net earnings and Net cash provided by operating activities include a net impact of $1,771 million for one-time Oracle Corporation (“Oracle”) litigation proceeds.

Fiscal 2021 fourth quarter segment results

Personal Systems’ net revenue was $11.8 billion, up 13% year over year (up 10% in constant currency) with a 6.5% operating margin. Consumer PCs net revenue decreased by 3% and Commercial PCs net revenue increased by 25%. Total units were down 9% with Notebooks units down 12% and Desktops units up 2%.

Printing net revenue was $4.9 billion, up 1% year over year (flat in constant currency) with a 17.0% operating margin. Total hardware units were down 26% with Consumer units down 28% and Commercial units down 12%. Consumer net revenue was down 6% and Commercial net revenue was up 19%. Supplies net revenue was down 2% (down 3% in constant currency).

Reinvent

As the pandemic changed the way the world worked, educated, and entertained, organizations too had to ensure a revised approach to continue the brand presence and market share. As PCs became an essential part of the ‘work from home (WFH)’ ecosystem, HP hoped to reinvent how they approach work and leisure with the all-new HP devices.

Keeping with the market demands HP in addition to expanding the product categories being manufactured in India, is going beyond just assembly in India to increasing local value addition.

It is locally procuring subcomponents thereby enhancing the value of the product created out of India.

As reported the PC penetration rate in India is very low and there is still a huge gap to be covered. The digital acceleration at the SME and local level shops has created an added opportunity for the PC market and will give additional momentum to the industry. HP identifies these opportunities and expects to see unprecedented growth moving ahead. Another area is gaming and online content streaming which has also created a demand for computing. HP has been introducing innovative gaming and printing solutions and created a strong foothold. Innovation and focus on strategic growth continue to be the core driving factor for the company.

As we tide over the pandemic days and return to normalization, the hybrid workplace will continue to grow and we will see more workers across industry verticals getting on to the hybrid bandwagon. This will continue to fuel growth in the likes of computing and home printing devices – coming years will only tell us who will win the musical chairs.

Key Wins

• Introduced HP Wolf Security -- brings together new and existing HP security solutions for both PCs and printers, with the aim of boosting endpoint security for the hybrid workforce.

• Expands Amplify Impact program to more than 40 countries to connect business impact with purpose and values.

• Completes Acquisition of HyperX and Teradici

• Becomes the First Fortune 100 Tech Company to Commit to Gender Parity in Leadership

• New cloud-based device management solutions to boost IT productivity and the employee experience

Ketan Patel

Managing Director, HP India Market

By Minu Sirsalewala

minus@cybermedia.co.in