HP's annual Imaging and Printing Conference is usually a springboard for new product announcements, and this year's event was no exception. At the meeting, held May 10–12 in Half Moon Bay, CA, HP announced a number of new products, including a low-cost single-pass color laser printer, the firm's first desktop color laser MFP series, two entry-level monochrome laser printers, three business-class ink jet printers, a wide-format ink jet printer, a duplex-capable color scanner, and two business projectors. The theme of the conference was "Charting the Course," and HP wasted no time in reminding attendees of the essential role HP plays in shaping the printing and imaging market.
In his opening remarks, Vyomesh Joshi, executive vice president of HP's Imaging and Personal Systems Group (IPSG), talked about the firm's 20-plus years in the printing and imaging industry and emphasized that HP continues to drive innovation. "We chart the course for imaging and printing, and a lot of people follow and they follow fast," proclaimed Joshi. With promises of "revolutionary, disruptive" technology in 2005, Joshi said that HP will drive both top-line and bottom-line growth by balancing core competencies, emerging markets, and new businesses.
According to Joshi, HP's core businesses include monochrome laser devices, single-function ink jet printers, and large-format machines. He said that innovation for these markets will come from marketing and supply-chain improvements, with specific emphasis on emerging geographies. Emerging markets for HP include digital photography, color in the office, and "high-value pages" from multifunction copiers and digital publishing. Digital entertainment and display technologies represent a relatively new business for HP and are additional growth areas for the firm.
Cathy Lyons, senior vice president of HP's Business Imaging and Printing Group, expanded upon Joshi's theme of innovation, highlighting the 25 new imaging and printing products that HP introduced in 2004. Citing HP's strong color presence, Lyons outlined the firm's growth strategies for the small and medium-sized business (SMB) segment in 2005. According to Lyons, HP will drive profitable market growth with "best-in-class products and great solutions." She said that emerging markets, such as China, India, and Russia, account for an increasing percentage of HP's imaging and printing business and that the firm's new low-end monochrome laser printers are ideally suited for these areas. Lyons maintained that HP also plans to integrate the firm's marketing strategies with those of its channel partners to drive more growth.
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