HP Reveals Its Latest Revival Strategy
Beijing: Technology giant Hewlett-Packard (HP) said the company will continue to build IT infrastructure of the future focusing on a healthy mix of hardware, software and services.
The California-based firm with revenues of over $120 billion has witnessed tough times as turnover from its traditional businesses such as printers and PCs have declined due to consumers shifting to other devices like tablet PCs and Smartphones.
"We've strengthened our financial performance, our balance sheet is healthy, cash flow looks strong and we have stabilized our business," HP CEO Meg Whitman said at the HP World Tour here.
She added that the company is investing more in research and development as customers are demanding more innovation.
"Every 10 or 15 years there is a new shift in IT and the next major inflexion point has arrived, driven by cloud, security, big data and mobility," Whitman said adding that HP has differentiated itself from its competitors by being able to service all aspects of the latest IT revolution.
With technology shifting towards mobile, cloud computing and analytics, Whitman said the way consumers use IT today is very different compared to the past. Companies need to embrace this challenge.
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