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March 20, 2012

HP printer, PC arms to be combined

Its printing business head Vyomesh Joshi would quit, according to reports

By CBR Staff Writer

Hewlett-Packard is planning to merge its printing and PC arms in an effort to reduce costs.

This restructuring exercise would see HP’s printing business head Vyomesh Joshi stepping down, according to the Wall Street Journal’s blog AllThingsD, which would also see a lot of heads roll.

This has been prompted by the declining sales in the Imaging and Printing Group (IPG), once the cash cow of HP.

Sources say that PC sales are taking a hit too, as people are shifting their attention to tablet PCs and smartphones.

HP CEO Meg Whitman also acknowledged that the company was facing internal problems in a conference call in February.

While speaking to analysts after HP reported lower earnings and revenue in February, she said HP didn’t make the investments it should have during the past few years to stay ahead of customer expectations and market trends.

"As a result, we see eroding revenue and profits today," Whitman had added.

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It is expected that PC chief Todd Bradley would head the combined unit.

 

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