Hp Doubles Down On The Copier Business, Where Canon & Xerox Play
Company will introduce new copiers at conference in Boston
HP seeks growth in $55 billion market where Canon, Xerox play. By Olga Kharif & Brian Womack.
HP Inc. is doubling down on the copier market, according to two people familiar with the matter, as the company looks for new sources of revenue.
At a partner conference in Boston Monday, HP plans to show off several new copiers for corporate customers in an bid to boost growth and expand into what it has said is a $55 billion business, the people said. The company currently has a small presence in the office copier market, which is dominated by the likes of Xerox Corp. and Canon Inc. A spokeswoman at HP declined to comment.
HP, which split from Hewlett Packard Enterprise Co. last year, has a printer business that’s under pressure as consumers and businesses spend more time with digital mobile devices, reducing the need for paper documents. Still, gaining a larger slice of a waning paper-based market, through a more concerted push into copiers, could generate revenue growth if the company grabs enough share.
HP is also looking beyond paper. The company, a leading seller of personal computers, said earlier this year it plans to introduce three-dimensional printers for manufacturers looking for more-efficient ways to make items.