Mobile Technology Drives Drop in Printing
As if Hewlett-Packard Co. didn’t have enough problems with its lagging personal-computer business and its admission it paid billions of dollars too much for software firm Autonomy, sales of printers—long one of the Palo Alto, Calif., tech giant‘s main revenue sources—are shriveling.
HP executives insist printers, ink and related products will remain essential for businesses and many individuals. But people aren’t printing as much as they used to, in part, according to some experts, because of smartphones and tablets, which enable information to be easily accessed from anywhere. Experts predict the trend will increase, a threat to HP‘s bottom line.