India is the bright spot for HP Inc in Asia-Pacific market

Must Read

Statue of Unity inaugurated by PM Narendra Modi

Prime Minister Narendra Modi inaugurated Sardar Vallabhbhai Patel's 'Statue of Unity' on the occasion his 143rd birth anniversary on...

Bharat Ratna 2019 Awared to Pranab Mukherjee, Nanaji Deshmukh, Bhupen Hazarika

Bharat Ratna 2019: Former President Pranab Mukherjee, late legendary singer Bhupen Hazarika and late social activist Nanaji Deshmukh were...

Earth Anthem by Abhay Kumar garners global support

With growing global support towards an anthem for the planet, International Union for Conservation of Nature (IUCN) has also...
Knowledge Stall Deskhttps://knowledgestall.com
At Knowledge Stall, we are going to quench the thirst of knowledge. We are going to try our level best in providing you the latest trending news about lifestyle, technology and other informative sectors

India is the bright spot for HP Inc in Asia-Pacific marketGurugram, Feb 29 (IANS) For HP Inc, Asia-Pacific was the fastest growing market in its first quarter of fiscal 2020 and India is the bright spot owing to its rising millennial and aspirational young population, a top company executive has stressed.

HP Inc reported net revenue of $14.6 billion in the first quarter of fiscal 2020 (November-January period) and free cash flow at $1.1 billion.

- Advertisement -

“Asia-Pacific at roughly 23 per cent of our global business in Q1 was the fastest growing market and India led the pack, riding on its growing young population which aims to make a true work-life balance via digital technology and next-gen devices,” Vinay Awasthi, Managing Director, HP Inc., India, Bangladesh and Sri Lanka, told IANS.

Effective from November 1, 2019, HP announced a shift from its previous three-region model to 10 geographic markets to foster speed, flexibility and business efficiency.

As part of the new structure, India is now a separate Geographic Market (GM) with Sri Lanka and Bangladesh.

“This move would not only enable tighter alignment between our global businesses and priorities in India but also simplify our go-to-market model in the country,” said Awasthi.

HP Inc sees massive opportunities across consumer, enterprise and small and medium businesses (SMBs) segments in India in 2020.

“In the last few months, consumer markets have shown more buoyancy than expected. We believe there is enough business for us in India. We need to just go out in the market and get it,” said Awasthi.

“Our PC business has been growing in double digits and we expect the momentum to continue. We also see consolidation of PC market to continue,” he added.

Education, entertainment and creation will be the key uses cases that will drive PC adoption by Gen Z and millennials.

“In our print business, we see learning as a core driver for home printing segment, while digitization, workflow transformation and ease of printing will drive the enterprise and SMB segment,” Awasthi told IANS.

India”s traditional PC market saw a six-year high with 11 million shipments of desktops, notebooks and workstations in 2019 — an impressive 18.1 per cent year-over-year (YoY) growth, according to the International Data Corporation.

HP regained the top position in Q4 2019 (October-December period) as its shipments grew 8.6 per cent from the same time a year ago.

Riding on Ink Tank printer sales, HP Inc maintained its leadership position in the Hardcopy Peripherals market in India with a market share of 39.1 per cent in the calendar year 2019.

HP”s Ink Tank shipment grew by 14 per cent (year-on-year) as a result of strong channel schemes and end-user promotions. HP”s share in the copier segment grew by 29.4 per cent (YoY) owing to strong channel push, according to IDC data.

“India is a young nation. Our age pyramid is just right. The time is ripe to leverage our demographic dividend. No country has been able to modernise without using latest technology tools — be it for education, entertainment or creation — and India is no exception,” Awasthi noted.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Latest News

We succeeded in saving country from stage 3: Health Minister

New Delhi, April 25 (IANS) Union Health Minister Harsh Vardhan on Friday said we have saved India from going...

Dietary supplements important weapon for fighting off COVID-19

New York, April 25 (IANS) Supplements containing vitamins C and D and other micronutrients are a safe, effective and low-cost means of helping your...

Instagram launches in-app food delivery to support businesses

San Francisco, April 25 (IANS) Facebook-owned photo and video-sharing app Instagram has launched a new feature that allows food orders to be placed through...

India has so far gifted $5 million medical supplies to world to combat Covid-19

New Delhi, April 24 (IANS) India has gifted USD 5 million worth of medicines and other Covid-19 related supplies to the world so far...

India needs to incentivise charger manufacturing: Top industry body

New Delhi, April 24 (IANS) Smartphone chargers and Printed Circuit Board Assembly (PCBA) are two mobile components that could help India achieve its manufacturing...

No exponential rise in Covid-19 cases in country: Health Ministry

New Delhi, April 23 (IANS) The Centre said on Thursday that the rise in coronavirus cases in the country has been more or less...

Google will now verify all of its advertisers on its platforms

San Francisco, April 23 (IANS) To provide greater transparency and equip users with more information about who is advertising to them, Google on Thursday...

HP to provide free resources to students, educators in India

New Delhi, April 23 (IANS) PC and printer major HP Inc. on Wednesday announced its partnership with educational content provider Gamooz in India to...

Can Facebook become Amazon of the world with Reliance Jio?

New Delhi, April 23 (IANS) Mark Zuckerberg-run Facebook has interestingly chosen India to begin its global ecommerce journey with investing $5.7 billion (approx. Rs...

More Articles Like This