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Asia/Pacific Printer/MFP Shipments Plunge 15.2 Percent in First Half
The Asia/Pacific (excluding Japan) hardcopy peripherals (HCP) market faces sharp declines amid economic and political volatility in the first half of 2024, according to new research from International Data Corporation. The Laser A3 and A4 Segments were hit hard, while the Inkjet Segment showed resilience in selected regions. According to the IDC Worldwide Hardcopy Peripherals Tracker,…
HP Celebrates 40 Years of Inkjet-Printing Technology
It may be hard to believe, but HP Inc.’s inkjet printer is celebrating its 40th birthday this month. Now, HP didn’t invent the first inkjet printer – that honor lies with IBM, which introduced the inkjet IBM 6640 printer in 1976. However, 40 years ago in 1984, HP – then known as Hewlett-Packard – introduced the ThinkJet, which transformed the printing market by replacing the noisy dot-matrix…
This Week in Imaging: Degenerative AI - When AI Goes Wrong
One of today’s big topics is generative AI (GenAI), that is, the use of artificial intelligence to create new content such as images, text documents (emails, articles, manuals), videos, etc. But along with GenAI unfortunately comes degenerative AI. That was the subject of a New York Times article this week, When A.I.’s Output Is a Threat to A.I. Itself. While there’s plenty of cheerleading for AI…
HP Leadership Discusses Third Quarter, Print Business, Future Ready and More
Yesterday, HP Inc. announced its fiscal third-quarter financial results and also held an earnings conference call to discuss the results, its Printing business, the status of its Future Ready program, and a new acquisition. HP CEO and President Enrique Lores noted that HP returned to revenue growth for the first time in nine quarters, with revenue up 2 percent year-over-year for its third…
HP Reports Improved Third-Quarter Results Driven by PC Revenue
On August 28th, HP Inc. reported results for its third quarter, which consisted of the three months that ended on July 31, 2024. In a nutshell, HP returned to revenue growth – although not by much – and reported improved results versus its preceding second quarter. However, revenue growth came from its PC business, not its Printing business. HP’s third-quarter net revenue was $13.5 billion, up 2…
HP reports lower-than-expected results, CEO weighs in on AI PCs, cost cutting
HP Inc. (HPQ) reported weaker results than its last quarter, but its CEO says the tech giant is poised to deliver better results as AI PCs grow and the company cuts costs. CEO Enrique Lores told me on Yahoo Finance that the company will be more “aggressive” in its cost cuts to improve profits, primarily in the printing business. The cost cuts are part of a $1.6 billion plan that was laid out…
HP May Receive Up To $50 Million in Funding Under CHIPS ACT
The U.S. Department of Commerce announced today that it’s signed a non-binding preliminary memorandum of terms (PMT) with HP Inc. to provide up to $50 million in funding to HP under the CHIPS and Science Act. The funding would support HP’s microfluidics semiconductor fab (manufacturing facility) located in Corvallis, Oregon. Passed two years ago, the Creating Helpful Incentives to Produce…
HP and Plaintiffs Reach Settlement in Printer Firmware Class-Action Lawsuit
HP Inc. has reached a settlement in a U.S. class-action lawsuit brought against it by Mobile Emergency Housing, Track Rat Enterprises, Performance Automotive, and others. The lawsuit involved HP’s use of dynamic security and firmware updates to prevent the use of third-party toner cartridges. Last week, the parties notified the U.S. District Court, Northern District of California, that they had…
