“Hewlett-Packard Co expects to become the second or third largest player in China’s booming personal computer and laptop markets by 2008, a senior company executive said yesterday,” Bloomberg reports.
“Hewlett-Packard Co, the world’s second-biggest personal computer maker, will increase investment in China and start selling digital cameras and home entertainment systems in the country, said chief executive Carly Fiorina. ‘Hewlett-Packard’s promise to invest in China has remained a priority and our level of investment is on the rise,’ Fiorina said at a presentation in Shanghai,” Bloomberg reports. “Fiorina is focusing Hewlett-Packard on digital cameras, photo printers and entertainment systems as consumer electronics demand growth outstrips that for computers. Last year consumer market sales made up a “huge part” of the company’s business, accounting for US$18 billion of the Palo Alto, California-based company’s US$75 billion total revenue, Fiorina said.”
Bloomberg reports., “‘China is the largest and fastest growing consumer market in the world today with more than 1.3 billion consumers,’ said Fiorina. ‘The use of computers is spreading more rapidly here than any other nation.’ Hewlett-Packard returned to China eight months ago after withdrawing in 2001. The company plans to introduce its full range of consumer products, Fiorina said. This includes the HP-branded iPod music player based on Apple’s best selling music player, as well as projectors, entertainment hubs and displays.”
Full article here.