HP Invests More Than $1 Billion to Reset Printing and Imaging Market.Business Editors/High-Tech Writers TECHXNY/PC EXPO 2002 Company's Largest Consumer Product Rollout in History Sparks Digital Imaging Revolution -- Putting Traditional Photography on Alert HP (NYSE NYSE See: New York Stock Exchange :HPQ HPQ Hewlett-Packard Corporation (NYSE) HPQ High Priority Queue ) today unveiled its $1.2 billion investment to reset the imaging and printing market. Between now and early 2003, HP will roll out worldwide more than 50 new imaging and printing products offering consumers greater value and unparalleled ease of use. The company has invested $900 million in manufacturing, $125 million in research and development and $200 million in marketing to roll out the single largest consumer product launch in the company's history and drive digital imaging mainstream. "This announcement marks a defining moment in the evolution of HP's imaging and printing business," said Carly Fiorina Cara Carleton "Carly" Fiorina (born Cara Carleton Sneed; September 61954 in Austin, Texas) is an American business executive, best known as former CEO (1999–2005) and Chairman of the Board (2000–2005) of Hewlett-Packard (HP). , HP chairman and chief executive officer. "Today's announcement is the upshot of a major R&D and manufacturing effort designed to make technology a more natural extension of how we live and work by engineering our products explicitly for simplicity and ease of use." "Today's announcement culminates a three-year investment to make the process of taking, printing and sharing photos easier and more affordable for consumers," said Vyomesh Joshi, executive vice president, HP Imaging and Printing Group. "This effort included completely redesigning our products and supplies to meet the emerging needs of consumers as digital imaging becomes pervasive." HP begins delivering on its investment with today's announcement of three new printers, the HP Deskjet DeskJet is a brand name for inkjet printers manufactured by Hewlett-Packard Company. These printers range from small domestic to large industrial models, although the largest models in the range have generally been dubbed DesignJet. 5550, 3820 and 3420 color inkjet printers A printer that propels droplets of ink directly onto the medium. Today, almost all inkjet printers produce color. Low-end inkjets use three ink colors (cyan, magenta and yellow), but produce a composite black that is often muddy. . The new HP Deskjet 5550 color inkjet printer produces images that rival the quality of traditional photographs. It features up to six-ink printing with HP's exclusive color layering technology from Photoret IV(1) and 4,800-optimized dots-per-inch (dpi) technology.(2) Photoret IV enables the HP DeskJet 5550 color inkjet printer to produce more than 1.2 million colors that create images with natural, lifelike skin tones and bright, vibrant colors at a quality unmatched by any other personal printer available today. HP also announced two printers priced below $100 that address the increasing demand for affordable and reliable high-quality printing. They are the HP Deskjet 3420 color inkjet printer and the HP Deskjet 3820 color inkjet printer, which features 4,800-optimized dpi. IDC predicts that by 2005, more than 15 billion digital images will be printed in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and over one-third of U.S. households will own digital cameras.(3) A recent InfoTrends study shows that 81 percent of people intending to purchase a digital camera expect to print their digital photos at home.(4) HP invented thermal inkjet technology in 1979, and in 1984 the company produced the industry's first thermal inkjet printer, the HP ThinkJet printer. Since then, HP has continued to make personal printing better, easier and more accessible to consumers -- a strategy that has enabled HP to lead the printer market for more than 18 years. "Twenty years TWENTY YEARS. The lapse of twenty years raises a presumption of certain facts, and after such a time, the party against whom the presumption has been raised, will be required to prove a negative to establish his rights. 2. and 170 million inkjet printers later, HP continues to reinvent re·in·vent tr.v. re·in·vent·ed, re·in·vent·ing, re·in·vents 1. To make over completely: "She reinvented Indian cooking to fit a Western kitchen and a Western larder" inkjet technology," said Angele Boyd, group vice president, Image Capture and Output Research, IDC. "By bringing higher levels of photo-quality printing to the lowest price points in its product line, HP reinforces its leadership not only in the high-end, but in the low-end segment as well." HP Deskjet 5550 Color Inkjet Printer The HP Deskjet 5550 color inkjet printer offers versatile photo and document printing with standard four-ink or optional six-ink color printing “colour separation” redirects here. For other uses, see colour-separation overlay. Color printing is the reproduction of an image or text in color (as opposed to simpler black and white or monochrome printing). , fast speeds and convenient, innovative features such as borderless 4 x 6-inch photo printing and ink-backup mode. The printer prints laser-quality black text at up to 17 pages per minute (ppm (Pages Per Minute) The measurement of printer speed. See gppm. PPM - Portable Pixmap ) and color at up to 12 ppm on a wide variety of paper types and sizes. The HP Deskjet 5550 color inkjet printer ships with the new HP 56 Black inkjet print cartridge (1) See phono cartridge. (2) A removable storage module that contains magnetic disks, optical discs, magnetic tape or memory chips. Cartridges are inserted into slots in the drive, printer or computer. and the HP 57 Tri-color inkjet print cartridge, providing crisp black text and brilliant color, four-ink printing. Optional six-ink color printing is available with the separate purchase of the new HP 58 Photo inkjet print cartridge, which, when used with the HP 57 Tri-color inkjet print cartridge, provides six-ink, virtually grain-free photos with excellent fade resistance on photo paper. HP Deskjet 3820 Color Inkjet Printer The HP Deskjet 3820 color inkjet printer features 4,800-optimized dpi and print speeds of up to 12 ppm in black and 10 ppm in color.(2) With 4,800-optimized dpi, consumers can enjoy stunning photo quality and rich black text. In addition, users can save time and money with "smart" features such as the print-cancel button, an ink-level indicator and manual two-sided printing. The HP Deskjet 3820 color inkjet printer allows consumers to link multiple home computers to a single printer with optional HP Jetdirect wired and wireless print accessories. The HP Deskjet 3820 color inkjet printer is compatible with the HP 15 Black inkjet print cartridge and the HP 78 Tri-color inkjet print cartridge. HP Deskjet 3420 Color Inkjet Printer The HP Deskjet 3420 color inkjet printer offers families and personal users fast speeds and enhanced print quality with 2,400-dpi color printing at up to 10 ppm in black and eight ppm in color. Also, by using HP's specially developed inks and papers, consumers can print long-lasting photos to preserve their favorite memories. The printer features on-screen on·screen or on-screen adj. & adv. 1. As shown on a movie, television, or display screen. 2. Within public view; in public. monitoring that saves consumers time and money by displaying a warning when the printer is low on ink, while the on-screen print-cancel button allows consumers to stop a job with the click of a button. The HP Deskjet 3420 color inkjet printer is compatible with the new HP 27 Black inkjet print cartridge, providing laser-quality black text for the home user, and the new HP 28 Tri-color inkjet print cartridge, providing brilliant photo quality and color graphics The ability to display graphic images in colors. for the home user. Price and Availability The HP Deskjet 5550, 3820 and 3420 color inkjet printers are expected to begin shipping in early July. Estimated U.S. street prices are as follows: HP Deskjet 5550 color inkjet printer -- $149, HP Deskjet 3820 color inkjet printer -- $99, HP Deskjet 3420 color inkjet printer -- $79.(5) About HP HP is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company's offerings span IT infrastructure, personal computing Refers to users working on their own computers rather than a terminal to a mainframe. Sometimes, the term refers to using computers at home for work and/or entertainment in contrast to business use only. See personal computer. and access devices, global services and imaging and printing. HP completed its merger transaction involving Compaq Computer Corp. on May 3, 2002. The company would have had combined revenue on a pro forma As a matter of form or for the sake of form. Used to describe accounting, financial, and other statements or conclusions based upon assumed or anticipated facts. The phrase pro forma basis with the Compaq transaction of approximately $81.1 billion in fiscal 2001 and has operations in more than 160 countries. More information about HP is available at http://www.hp.com. (1) HP Photoret IV is enabled in six-ink printing, available with separate purchase of photo cartridge; not included. (2) Up to 4,800 x 1,200-optimized dpi color printing on premium photo papers with 1,200 x 1,200-input dpi. (3) IDC, "The Impact of Digital Image Capture on the US Photofinishing pho·to·fin·ish·ing n. The act or business of developing camera films and printing photographs for customers. pho Industry, 2000-2005," published May 2001. (4) InfoTrends, "2002 Digital Camera Survey: Strong Momentum for Digital Camera Adoption," published March 2002. (5) Actual prices may vary. This news release contains forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. that involve risks, uncertainties and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements. Risks, uncertainties and assumptions include the possibility that the market for the sale of certain products and services may not develop as expected; that development of these products and services may not proceed as planned; and other risks that are described from time to time in HP's Securities and Exchange Commission reports, including but not limited to HP's annual report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. , as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. on January 30, 2002, for the fiscal year ended October 31, 2001, HP's quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended January 31, 2002 (as filed with the SEC on March 12, 2002) and subsequently filed reports. If any of these risks or uncertainties materializes or any of these assumptions proves incorrect, HP's results could differ materially from HP's expectations in these statements. HP assumes no obligation and does not intend to update these forward-looking statements. |
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