Hewlett-Packard’s Imaging and Printing Group (IPG) announced financial results for the fourth quarter 2002. This business unit, which includes home and business imaging and printing devices, reported fourth quarter revenue of $5.6 billion. Excellent global results have been mirrored in the Middle East, where according to IDC, HP now has a 75 percent average market share on laser and inkjet printers. Amr Hassan, GM, Hewlett-Packard IPG Middle East, said: “We are extremely proud of the progress we have made, in spite of the changes we have faced in the past six months. The results we are reporting today represent record growth for the quarter, and underline the commitment we have shown to the region. As a result of the advancements we have made locally, the Middle East region is now the No. 1 contributor of revenues in the ISE Region which includes Eastern Europe, the Middle East and Africa. In terms of growth, the commercial products division grew 14 percent quarter to quarter, with an overall growth of 10 percent in the consumer and commercial divisions. The IPG channel business grew by 21 percent in the commercial sector and 11 percent in the consumer sector.” Hassan commented further, “The year 2002 has been a flagship year for IPG in the Middle East. We have initiated a number of channel strategies including training and incentive programs, and have been rewarded with several important, high-profile deals, including Emirates Airlines, Kuwait National Petroleum Corporation and the National Commercial Bank of Saudi Arabia. The organization is now fully in place with a go-to-market and channel strategy that gives us a solid foundation with which we can support our future developments in mobile and digital imaging products. Our resources in the Imaging and Printing Group have grown tremendously in the region, specifically in Egypt and Saudi Arabia, to ensure that we are closer to the customer.”
Arab News Compunet 14 January 2003