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HP moving production away from China

This is the first “substantial move” by US-based company to move its personal computer supply chain beyond China…reports Asian Lite News

PC and printer major HP is reportedly shifting production of millions of consumer and commercial laptops to Thailand and Mexico this year, in a bid to diversity its supply chain beyond China.

According to a report in Nikkei Asia, this is the first “substantial move” by US-based company to move its personal computer supply chain beyond China.

“HP is also planning to shift some laptop production to Vietnam, starting next year, one of the suppliers said,” according to the report.

The company is following Dell and Apple in diversifying their supply chains beyond China that went through significant disruptions in the pandemic.

“HP is planning to shift some commercial notebook computer production to Mexico, while a portion of its consumer laptop production will go to Thailand,” the report claimed, citing sources.

The global PC shipments saw a 15 per cent decline (year-on-year) in the second quarter (Q2) of 2023 but rose 8 per cent (quarter-on-quarter).

Lenovo maintained its leading position in PC shipments despite an 18 per cent (year-on-year) decline, while HP and Apple showed solid performance with market share growth, according to Counterpoint Research.

After seven consecutive quarters of year-over-year decline, the PC market is showing initial signs of stabilisation, including sequential growth from the previous quarter, according to Gartner.

Gartner expects that PC inventory will normalise by the end of 2023, and PC demand will return to growth starting in 2024, he added.

HP shipments fell only slightly in the second quarter, ending a string of consecutive double-digit declines. Its laptop shipments grew modestly but were offset by a decline in desktop shipments, said the report.

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Business

HP Inc plans to cut around 6K jobs

hp india.

HP Inc and its subsidiaries announced fiscal 2022 net revenue of $63 billion, down 0.8 per cent from the prior-year period…reports Asian Lite News

PC and printer major HP Inc is joining the ongoing tech layoff season and will lay off nearly 4,000-6,000 employees.

In the earnings report for its fourth quarter of 2022, the company said it expects to reduce gross global headcount by approximately 4,000-6,000 employees, which is between 7-11 per cent of its workforce.

“These actions are expected to be completed by the end of fiscal 2025,” HP said in a statement late on Tuesday.

The company announced a ‘Future Ready Transformation Plan’, estimating annualised gross run rate cost savings of at least $1.4 billion by the end of fiscal 2025, and restructuring and other charges of approximately $1 billion.

HP Inc and its subsidiaries announced fiscal 2022 net revenue of $63 billion, down 0.8 per cent from the prior-year period.

“We had a solid end to our fiscal year despite navigating a volatile macro-environment and softening demand in the second half. In Q4 we delivered on our non-GAAP EPS target, while also completing our three-year value creation plan and exceeding our key metrics,” said Enrique Lores, HP President and CEO.

“Looking forward, the new ‘Future Ready’ strategy we introduced this quarter will enable us to better serve our customers and drive long-term value creation by reducing our costs and reinvesting in key growth initiatives to position our business for the future,” Lores said.

The Personal Systems net revenue was $10.3 billion, down 13 per cent year over year. The printing net revenue was $4.5 billion, down 7 per cent year over year, said the company.

The global PC market has had a rough year following a pandemic boom.

Declines continued for the traditional PC market as global shipments totalled 74.3 million units during the third quarter of 2022, down 15 per cent YoY.

The Indian traditional PC market declined by 11.7 per cent YoY with shipments of 3.9 million units in the September quarter after eight consecutive quarters of growth, according to the IDC.

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Business

HP acquires poly

The merger of HP and Poly comes as businesses and their employees are focused on finding better ways to work and collaborate in the hybrid world….reports Asian Lite News

PC and printer major HP Inc on Monday announced the completion of its $3.3 billion acquisition of Poly, a leading global provider of workplace collaboration solutions.

The deal is expected to accelerate HP’s strategy to create a more growth-oriented portfolio, further strengthen its industry opportunity in hybrid work solutions, and position the combined organisation for long-term sustainable growth and value creation.

“Poly brings incredibly strong talent, differentiated technology, and a complementary go-to-market system that we believe will further strengthen our position in large and growing markets,” said Enrique Lores, President and CEO of HP.

The merger of HP and Poly comes as businesses and their employees are focused on finding better ways to work and collaborate in the hybrid world.

Poly brings industry-leading video conferencing solutions, cameras, headsets, voice and software to HP, allowing customers to create meeting equity between those in the room and those who aren’t.

“Combining Poly and HP is a win-win for both organisations. More importantly, uniting these two companies will provide end-users with the essential hardware, software, and services required to successfully navigate hybrid work experiences now and into the future,” said Patrick Moorhead, CEO and chief analyst, Moor Insights & Strategy.

The addition of Poly will help HP to drive innovation and scale in two of its key growth areas: peripherals and workforce solutions.

Poly CEO Dave Shull will join HP as President, Workforce Services & Solutions, starting November 1.

Shull will lead the newly formed organisation focused on driving a more expansive growth agenda across HP’s commercial services business.

Andy Rhodes will run the combined HP-Poly business as General Manager, Hybrid Work Solutions & Peripherals, said the company.

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Business Technology UAE News

HP dismantles huge counterfeiting schemes

HP

HP and Emirati Authorities Shut Down Large-Scale Counterfeiting Facilities in Major Seizure of Over 207,000 Illicit Items…reports Asian Lite News

Emirati officials with, the help of HP partners, have successfully dismantled multiple major counterfeiting schemes designed to assemble and distribute illegal HP printer cartridges in the UAE market.

Between December 2020 and April 2021, local Emirati authorities conducted three major raids on several large-scale counterfeiting storage facilities in the Emirates of Dubai and Ajman. The resulting seizures saw local officials confiscate over 207,000 illicit items from various storage sites, preventing their unlawful sale within the UAE.

Vishnu Taimni, VP and MD of Middle East, Turkey and East Africa at HP

VISHNU TAIMNI, VICE PRESIDENT, AND MANAGING DIRECTOR, MIDDLE EAST, TURKEY AND EAST AFRICA: “Counterfeiting is an illegal activity that not only negatively impacts the businesses of resellers and distributors, but also affects the overall product experience for consumers. HP Original ink supplies have been developed to consistently deliver high quality results and user experience while ensuring minimal environmental impacts. We’re honoured by our longstanding partnership with Emirati officials and the exceptional success of our Anti-Counterfeiting and Fraud Programme in safeguarding our customers from the illegal sale of fraudulent HP products and remain committed to protect our customers from unlawful activities.”

Counterfeiting is a crime. For users, illegal cartridge imitations can cause a multitude of problems that can lead to performance and reliability issues. Should your printer break because of using counterfeit printer ink or toner, the manufacturer’s warranty may become invalid. 

In contrast, original HP products are designed to meet HP’s strict quality and reliability standards, based on a long history of research, development and testing. Original HP LaserJet and HP Inkjet cartridges, unlike counterfeits, benefit from superior performance and consistent results. Through its Planet Partners programme, HP also provides a closed loop recycling service to ensure cartridges are kept out of landfill.

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Across Europe, the Middle East and Africa (EMEA) over the last five years, approximately 12 million counterfeits and components have been seized by local authorities, supported by HP. HP has conducted over 4,500 audits and inspections (CPPAs and CDIs) of partners’ stocks or suspicious deliveries for customers.

Through HP’s Anti-Counterfeit and Fraud (ACF) programme, the company actively educates its customers and partners to be vigilant against fake printing supplies. It also cooperates closely with local and global law enforcement authorities to detect and dismantle illegal operations that produce counterfeit HP printing components.