Aug. 22, 2014
Hewlett-Packard's Chief Executive Officer, Meg Whitman,talked on CNBC with Jim Cramer and his team on Thursday about shares of HP after its quarterly earnings, and HP's interest in 3D printing.
After yesterday's close, HP announced a 29% year-on-year drop in Q3 profits. During the third quarter the company earned $985 million or $0.52 a share on revenue of $27.6 billion. Compared to Q3 2012, HP had only 1% increase in sales but 29% drop in profit. Even so, HPQ shares still rose to a multi-year high after the report.
HP is one of the largest computer companies in the world, with 317,000 employees and $112 billion in annual sales. In the past years Whitman has focused on reducing costs and now returned the company to profit.
"Overall, I'm very pleased with the progress we've made," said Whitman. "When I look at the way the business is performing, the pipeline of innovation and the daily feedback that I receive from our customers and partners, my confidence in the turnaround grows stronger."
HP has also focused on introducing new products, such as water-cooled servers and 3D printers. Whitman announced earlier this year that company is planning to enter the 3D printer space by the end of this Fiscal year (31st October.), so many people have been waiting for HP's entry into this market.
Whitman told CNBC that they are going to do 3D printing but they would take the enterprise side of 3D printing rather than the consumer side.
"We are doing it all organically because it has a lot of shared technology with our clear toner business. So, we'll do it organically. As I said, this fall we will announce the technology and you will see that begin to kick in for HP...," said Whitman.
HP has nearly 40% of market share of 2D printing, so it is a natural progression for HP to enter into 3D printing business. As a lot of core patents have expired or are expiring this year, it will be a good timing for HP to enter the market so they won't have to spend time and huge amount of money on developing the technology.
Whitman said HP's inhouse researchers have resolved limitations involved with the quality of substrates used in the process, which affects the durability of finished products. She said that the company is solving a number of technical problems that have hindered broader adoption of the 3D printing process, including the slow speed at which things print, and the quality.
Posted in 3D Printing Company
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some 3d systems printers already use HP print heads.... HP isnt really "behind" in the game.
smartfriendz wrote at 8/28/2014 10:46:46 AM:
they won't do it .. industry works this way : old big fat companies are too slow to be ready in time.. look at microsoft for the mobile and smartphone market and ask yourself why or how they possibly could miss this market ??? It's fine, place for new companies like makerbot and others for 3d printers for consumers :)
Wild Bob wrote at 8/23/2014 11:52:08 AM:
Look at the printer model to see what HP's 3D model will be. Cheap printer, extortionate consumables.
612io wrote at 8/22/2014 8:35:15 PM:
I am really, really, really curios what they will release. I've so much hype and and basically FUD (In stock news relating to other 3D-printer companies. concerning the rumored massive speed improvements of HP's technology and/or technologies in their upcoming offer. For now we can only guess unfortunately.
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