Thursday, November 26, 2020
Home India India is The Bright Spot For HP Inc in Asia-Pacific Region, Says...

India is The Bright Spot For HP Inc in Asia-Pacific Region, Says Top Company Executive

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

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.

“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
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. Wikimedia Commons

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.

ALSO READ: Zebronics Unveils Latest Home Automation Smart Camera With Wifi

“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. (IANS)

STAY CONNECTED

19,120FansLike
362FollowersFollow
1,780FollowersFollow

Most Popular

Identifying Mosquitoes Through App By Buzzing Sound

The high-pitched whine of a mosquito is annoying, but scientists have developed an app that uses that sound to detect dangerous mosquitoes. Mosquitoes kill hundreds...

Solomon Islands To Ban Facebook For National Unity

The government of the Solomon Islands has defended its plans to ban Facebook, insisting the move would preserve “national unity.” Ministers say the world's...

Gut Hormone Regulating Fat is Abnormal in Obesity

One key gut hormone released a few hours after eating, turns off fat production by regulating gene expression in the liver and this regulation...

50% Male Employees Agree Bias Against Women in Workplace

More than 50 percent of the men feel that there is an increased bias against women at the workplace, said a new survey. According to...

Here Are 10 Ways To Improve Self-Awareness Levels

Emotional intelligence tends to fuel one's performance on the personal front as well as professionally. Right from your self-assurance, empathy, and positivity to your...

Cooking With Biomass Fuels Damages Lungs

People who cook with biomass fuels like wood are at risk of suffering considerable damage to their lungs from breathing in dangerous concentrations of...

Pregnancy Stress Affects Infant’s Brain Development

Researchers have revealed that infants' brains may be shaped by levels of stress their mothers experience during pregnancy. The study, published in the journal eLife,...

What Does The Future Hold For Online Entertainment?

It’s hard to say exactly what kind of the year 2020 has been for the entertainment industry. While cinemas and theatres across the western world...

Recent Comments