American HP Inc. has begun liquidation of its subsidiary legal entity in Russia, LLC HPI Inc. This is reported by RBC with reference to Fedresource data. Registered in 2015, the “daughter” sold the brand’s equipment in Russia, provided technical support and warranty service. In February 2022, a major printer manufacturer decided to suspend deliveries, and in May — to stop working in the country. By the end of the year, the revenue of the Russian company fell by 64 percent, and its net loss amounted to 1.7 billion rubles. HPI Inc. began to reduce staff and terminate office and transport rental agreements, as well as partnership agreements.
According to a source in the partner company “HPI Inc”, due to the withdrawal of the American manufacturer from the market, there were problems for firms that signed contracts with it for printing or servicing office equipment. HP paid all penalties, but customers were left without the ability to print documents — the liquidation of a legal entity may be complicated by lawsuits from former partners of the company.
In early October, the American manufacturer Xerox sold its business in Russia to local top management and completed its withdrawal from the market. The former legal entity of the company in Russia changed its name from Xerox (CIS) to Technoevolab. The firm promised to keep the jobs for employees and maintain long-term relationships with customers and suppliers.
Tonernews.com: This new article is rather confusing, since HP made a statement about this last June 2022. It looks like, due to legal reasons, it is taking longer than HP expected to pull out of Russia. Statement: “After suspending shipments to and sales in Russia and Belarus in late February, HP has monitored the situation closely. It is no longer tenable for us to continue operations in Russia and Belarus, and we are proceeding with an orderly exit of our remaining business in these countries”.