HP, the world's largest PC maker, has posted a record quarterly loss and reported slumping sales for personal computers, printers and associated business services.
The third-quarter loss of US$8.86 billion includes a writedown for the enterprise-services unit and reflects a 10 per cent decline in PC revenue
HP's Imaging and Printing Group (IPG) revenue declined three per cent year-on-year while commercial hardware revenue and units were up four per cent. Consumer hardware revenue was down 13 per cent year-on-year with a 23 per cent decline in printer units.
Chief executive officer Meg Whitman, who has held the top job for 12 months, said the company is boosting investment in research and development and revamping the PC, printer and enterprise-services units.
To help revive the PC division, HP plans to release a tablet computer running Microsoft's Windows 8 software later this year, aimed mainly at businesses rather than consumers.
The company has designed a tablet that's "desirable to workers" while including security and durability features, rather than trying to take on Apple's iPad directly, Whitman said.
