HP’s Colour LaserJet Pro MFP M477, released in September
CEO Dion Weisler said the printer market is not expected to improve “in the near future”, after fourth-quarter results for 2015 showed printing revenue falling 14 percent year-on-year compared to 2014.
Full year net revenue for the total Printing and Personal Systems group totalled $52.7 billion (€49.8 billion), down from the 2014 figure of $57.5 billion (€54.3 billion). 4Q2015 hardware units sales were down 17 percent for the full year, while commercial hardware fell 23 percent year-on-year, as did supplies revenue, by 10 percent.
Full year net revenue for HP Inc came in at $103.4 billion (€97.7 billion), down seven percent from the 2014 amount, while net earnings were registered at $4.6 billion (€4.3 billion), falling from the 2014 figure of 5 billion (€4.7 billion).
Weisler said the business will “constantly assess how the market evolves”, CRN reported.
He remained resolute despite the poor results: “We firmly believe in our strategy around core growth and the future as outlined in the securities analyst meeting.
“We are still the leader in large consolidating markets. We have scale, innovation, channel reach and an incredible brand. While the market is challenging now, we believe the actions we are taking now will protect the core that generates the majority of our cash flow.”