HP Launches 75-PPM A3 MFP and More

New offerings make digital capture more accessible; new scanners and MFPs deliver speed, efficiency
PALO ALTO, Calif., December 3, 2015 — HP Inc. today announced new solutions designed to make it easier and less expensive for customers to deploy digital capture, as well as new scanners and MFPs that provide faster scanning and printing.

“Converting paper into digital files helps businesses lower costs and operate more efficiently,” said Edmund Wingate, vice president & general manager, JetAdvantage Solutions, HP. “HP is working to eliminate the barriers of cost and complexity so more customers can deploy and benefit from digital capture.”
New JetAdvantage Solutions
HP has updated its JetAdvantage solution portfolio with new offerings that make it simpler and less expensive to deploy scanner and MFP-based digital capture. Rather than invest in a complex, extensively featured solution, the new HP offerings enable customers to deploy faster with less upfront investment. The new HP JetAdvantage solution offerings include:

-HP Scan Configuration Service provides template-based scan flows for use with HP Embedded Capture. HP has also introduced templates for healthcare and financial services, with additional industry templates to follow. These templates enable set up of repeatable digital capture processes that support common business functions for these industries. For healthcare, the supported processes are patient admission and patient discharge. The financial services template supports processes for loan application and account opening. The HP Scan Configuration Service leverages predefined templates to help reduce deployment time significantly for implementing scan flows and lower the cost for deploying custom scan flows, with pricing set at a one-time fee of $25 per device when bundled with the purchase and installation of HP Embedded Capture.

-HP Capture and Route is now available through a one button implementation on HP Enterprise MFPs and Digital Senders. For customers that only need to deploy a single process to digitally capture and manage paper documents, this option enables a simple, modular deployment, along with pricing flexibility. Businesses get the flexibility to start small, implementing a single process and add additional processes over time as needed.

New Scanners Enable Faster Digitalization
HP is further helping customers boost office productivity by making the process of scanning and converting paper documents more efficient with three new HP ScanJet devices that deliver faster scanning speeds.

• For small and medium businesses with general office scanning needs, the HP ScanJet Pro 2500f1 and the HP ScanJet Pro 3500f1 PC-connected flatbed scanners with automatic document feeders provide single pass duplex scanning and scan to cloud capabilities. The HP ScanJet Pro 2500fn1 can scan up to 40 images per minute and the HP ScanJet Pro 3500fn1 can scan up to 50 images per minute.1
• For small and medium businesses and enterprise departments in need of a scanner with network connectivity, HP is announcing the HP ScanJet Pro 4500fn1, a flatbed scanner with an ADF that includes on-device sending and scanning, Wi-Fi and Wi-Fi direct connectivity, and single pass duplex scanning of up to 60 images per minute. This scanner is available beginning Jan. 7.2
• To help further enhance productivity for converting paper documents into digital files, HP will deliver the HP JetAdvantage Capture app, which makes it easy to capture, store and route digital files from a mobile device. The app also supports using mobile devices to initiate scanning and receive scanned documents from Wi-Fi-enabled HP MFPs and scanners, such as the HP ScanJet Pro 4500fn1. This app is available beginning Jan. 7.  New MFPs deliver high volumes and fast speeds
  HP is expanding its A3 portfolio, introducing two new MFPs for managed print services customers in need of high-volume imaging and printing. The HP MFP S965dn and HP MFP S975dn are designed to support high volume document workflows and light production printing while saving up to 30 percent on printing costs.3 The HP MFP S965dn prints up to 65 pages a minute and the HP MFP S975dn prints up to 75 pages a minute, and both devices can scan up to 200 images per minute with single pass dual sided scanning.
  More information about the new HP JetAdvantage solution portfolio is available www.hp.com/go/jetadvantage.
  
  About HP Inc.
  HP Inc. creates technology that makes life better for everyone, everywhere. Through our portfolio of printers, PCs, mobile devices, solutions, and services, we engineer experiences that amaze. More information about HP Inc. is available at http://www.hp.com.
  1Scan speeds of up to 40 images per minute for the HP ScanJet 2500f1 and 50 images per minute for the HP ScanJet 3500f1 measured at 300 dpi (black-and-white, grayscale, and color). Actual processing speeds may vary depending on scan resolution, network conditions, computer performance, and application software.
  2Scan speeds of up to 60 images per minute for the HP ScanJet 4500fn1 measured at 300 dpi (black-and-white, grayscale, and color). Actual processing speeds may vary depending on scan resolution, network conditions, computer performance, and application software.
  3Estimated energy and paper savings based on analysis of select HP Managed Print Services customers’ imaging and printing operations using data gathered on devices and paper consumption, comparing with post-MPS actuals or projections. Results depend on unique business environments, the way HP products and services are used, and other factors. Overall printing costs are unique to each company and should not be relied on for savings you may achieve. According to industry analysts, savings of up to 30% are typical with managed print services.
  4Printing speed measured using ISO/IEC 24734 and excludes first set of test documents. For more information, see hp.com/go/printerclaims. Exact speed varies depending on the system configuration, software application, driver, and document complexity.
  5Scan speeds measured from ADF. Actual processing speeds may vary depending on scan resolution, network conditions, computer performance, and application software.
  This document contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements involve risks, uncertainties and assumptions. If such risks or uncertainties materialize or such assumptions prove incorrect, the results of HP and its consolidated subsidiaries could differ materially from those expressed or implied by such forward-looking statements and assumptions. All statements other than statements of historical fact are statements that could be deemed forward-looking statements, including the expected benefits and costs of the transaction; the expected timing of the completion of the transaction; the ability to complete the transaction considering the various closing conditions, including those conditions related to regulatory approvals and Unisplendour shareholder vote; any statements of expectation or belief; and any statements of assumptions underlying any of the foregoing. Risks, uncertainties and assumptions include the possibility that expected benefits may not materialize as expected; that the transaction may not be timely completed, if at all; that, prior to the completion of the transaction, the new H3C business may not perform as expected due to transaction-related uncertainty or other factors; that the parties are unable to successfully implement integration strategies; and other risks that are described in HP’s Securities and Exchange Commission reports, including but not limited to the risks described in HP’s Annual Report on Form 10-K for its fiscal year ended October 31, 2014 and HP’s Quarterly Report on Form 10-Q for its fiscal quarter ended January 31, 2015. HP assumes no obligation and does not intend to update these forward-looking statements.
  © 2015 Hewlett-Packard Development Company, L.P. The information contained herein is subject to change without notice. The only warranties for HP products and services are set forth in the express warranty statements accompanying such products and services. Nothing herein should be construed as constituting an additional warranty. HP shall not be liable for technical or editorial errors or omissions contained herein.
  

Gartner Says India Printer Copier and Multifunctional Product Shipments Declined 4.7 Percent In The Third Quarter Of 2012

Gartner Says India Printer Copier and Multifunctional Product Shipments Declined 4.7 Percent In The Third Quarter Of 2012

Mumbai, India, December 20, 2012—

The combined serial inkjet and page printer, copier and multifunction product (MFP) market in India totaled 7,60,778 units in the third quarter of 2012, a 4.7 percent decline from the third quarter of 2011, according to Gartner, Inc. However, total end user spending stood at USD $246.5 million, up 31 percent from the same period last year.

“The festive season did not really resuscitate the printer copier market; as was expected by most of the major hardware providers. With besieged economic environment and green initiatives gaining growing importance, organizations adopted a ‘wait and watch’ approach on their IT spending for peripheral devices,“ said Amrita Choudhury, research analyst at Gartner. “Most of the technology providers suffered on the product front. However, services such as managed print services, cloud printing, and document outsourcing witnessed positive responses from the Indian market. The dissuasion from the home segment continued with shipments in the third quarter of 2012 declining 18 percent compared to the third quarter of last year, which indicates this will be a fast-declining market compared to the professional segment.”

HP maintained its leadership in the Indian printer, copier and MFP market (see Table 1), as its market share totaled 51 percent, followed by Canon with 23 percent market share. Epson accounted for 9 percent, while Samsung accounted for 8 percent of market share in the third quarter of 2012.

 Table1

 India Printer, Copier and MFP Unit Shipment Estimates, 3Q12 (Thousands of Units)

Vendors	3Q12 Shipments	3Q12 Market Share (%)	3Q11 Shipments	3Q11 Market Share (%)	3Q12-3Q11 Growth (%)
HP	384.9	50.6	409.0	51.2	-5.9
Canon	170.9	22.5	195.6	24.5	-12.6
Epson	70.2	9.2	72.2	9.0	-2.7
Samsung	62.6	8.2	67.9	8.5	-7.9
Others	72.1	9.5	53.7	6.7	34.3
Total	760.7	100.0	798.3	100.0	-4.7

Note: Totals may not add up to 100 percent due to rounding

Source: Gartner (December 2012)

The Page A4 MFP segment grew 11.5 percent compared to the third quarter of 2011.The top three providers in the segment are HP with 51.8 percent market share, followed by Samsung with 22.1 percent market share, and Canon with 11.5percent market share. HP grew nearly 40 percent from the midsized business segment, Samsung recorded a stable performance of 26.6 percent in shipments from all businesses, while Canon suffered a major decline of 57 percent this quarter. The monochrome devices of this segment grew 12 percent coming from the impetus provided by the small business and government public sectors units PSUs, while the color devices suffered a decline of 20 percent compared to the third quarter of 2011.  

The Page A3 MFP segment increased 22.2 percent compared to the third quarter of 2011. Canon led the market with 23.2 percent market share, Ricoh took a step forward this quarter, ranking No. 2, accounting for 21.4 percent market share, while Konica Minolta ranked No. 3 with 18.4 percent market share. The monochrome segment accounted for more than 95 percent of the shipments in this segment, and grew 20.2 percent, similarly, color devices also showed 50.5 percent increase, mainly driven by the large businesses and reprographic production houses. Stable demand brought about by the replacement cycle and demand for managed print services also resulted in the healthy growth of this segment.

 The page printer market experienced a fall of 5.7 percent in the third quarter of 2012. HP dominated the market with 53.9 percent market share, followed by Canon at 28.8 percent market share, and Samsung with 9.9 percent market share in third quarter of 2012. HP grew 15.3 percent in the 11-20ppm printer segment. Canon and Samsung fell 23.3 percent and 34 percent in shipments from the 31-40ppm printer segment. Both color and monochrome devices in this segment declined 17.8 percent and 5.2 percent compared to the third quarter of 2011.

The Inkjet MFP market dropped 6.2 percent in unit shipment compared to the third quarter of 2011. HP suffered a decline of 29.2 percent compared to the same quarter of 2011, even though it accounted for 53 percent of the market share. HP focused on the larger businesses, and its newly launched DeskJet IA2515 was well received in the Indian market. Canon and Epson had a positive outlook for this quarter, with a 75 percent and 21.1 percent growth in shipments coming from the small businesses, accounting 27 percent and 16 percent market share.

The inkjet printers declined for seven consecutive quarters, as the market declined 24.5 percent compared to the third quarter of 2011. HP witnessed a shipment decline of 29.9 percent, and accounted for 47.4 percent of the market. Epson had a shipment decline of 19.1 percent, and had 38.5 percent market share. Canon, which had improved its inkjet printers in the second quarter, suffered a 17.9 in unit shipment percent compared to the third quarter of 2011, contributing to 14.1 percent of market share.

Additional information is available in the Gartner report "Quarterly Statistics: Printers, Copiers and MFPs, Asia/Pacific,3Q12 Update". The report is available on Gartner's website at  www.gartner.com/id=2244215.

Who Will Be the Next Hewlett-Packard?

During the technology-stock bubble of the 1990s, it would have been a compliment to say a company had the potential to become the next Hewlett-Packard Co. That same line would have a very different meaning now.

Today, if someone called a company the next Hewlett- Packard, this would probably mean it is a prime candidate to book huge losses because of disastrous acquisitions. What might such a company look like? Consider Xerox Corp. (XRX)

At the start of 2007, Xerox had a stock-market value of $16 billion. Since then, the Norwalk, Connecticut-based printer and copier pioneer has paid about $9.1 billion to acquire 41 other companies. It has destroyed more value than it created. At $6.79 a share, Xerox’s market value is $8.6 billion -- equivalent to 71 percent of its common shareholder equity, or book value.

The most glaring sign that large writedowns may be needed at Xerox is a line on its books called goodwill, which is the intangible asset that a company records when it pays a premium in a takeover. Xerox’s balance sheet would have investors believe that its goodwill alone, at $9 billion, is more valuable than what the market says the whole company is worth.

Xerox’s goodwill obviously isn’t worth that in reality. Goodwill exists only on paper and can’t be sold by itself. It’s a plug number, defined under the accounting rules as the difference between the purchase price for an acquisition and the fair value of the acquired company’s net assets.

‘Reference Points’

Asked about the possible need for large writedowns, a Xerox spokeswoman, Karen Arena, noted that the company will conduct its annual goodwill-impairment test this quarter.
“Share price is just one of several reference points we use to validate our assumptions,” she said. “We also look to our operational results, including cash flows, revenue growth and profit margins.”
Most of the goodwill on Xerox’s balance sheet arose from the company’s $6.5 billion acquisition in 2010 of Affiliated Computer Services Inc., a provider of information-technology services. Xerox allocated $5.1 billion of the purchase price in that deal to goodwill. Xerox’s latest balance sheet also showed $2.9 billion of other intangible assets, the bulk of which are customer relationships acquired from Affiliated Computer.
Suspiciously high goodwill was the same indicator I pointed to in an Oct. 4 blog post suggesting that more large writedowns were needed at Hewlett-Packard. (HPQ) The Palo Alto, California-based maker of computers and printers traded for a significant discount to book value at the time, and its goodwill exceeded its market value by $7.5 billion.

Hewlett-Packard last week disclosed an $8.8 billion writedown of goodwill and other intangible assets from its 2011 purchase of the U.K. software maker Autonomy Corp. It said more than $5 billion of the charge was related to financial-reporting improprieties by Autonomy. The disclosure sent Hewlett-Packard’s shares down 12 percent in a day.

Regardless of whether the allegation proves correct, Hewlett-Packard paid way too much for Autonomy, which had a reputation for aggressive accounting long before it was bought. (Just ask the analysts at the financial-research firm CFRA in New York, who wrote 14 reports from 2001 to 2010 raising doubts about Autonomy’s accounting and disclosure practices.)

Hewlett-Packard had allocated $6.9 billion of its $11 billion purchase price for Autonomy to goodwill. The writedowns disclosed last week were only the latest of their kind. Three months earlier, Hewlett-Packard recorded a $9.2 billion writedown largely related to its buyout of Electronic Data Systems Corp. in 2008.

Dubious Leaders

A search for other companies with strangely high goodwill values turned up several notable examples. Credit Agricole SA (ACA), the French bank that trades for about a third of its book value, shows goodwill of 16.9 billion euros ($21.9 billion). By comparison, its stock-market value is 14.6 billion euros.
Telecom Italia SpA (TIT), which trades for about 60 percent of its book value, has goodwill of 36.8 billion euros and a market capitalization of only 13.2 billion euros. Fiat SpA (F), the Italian automaker, trades for less than half of book and shows goodwill of 10.4 billion euros -- more than twice its market value. Nasdaq OMX Group Inc. trades for 78 percent of book and shows $5.3 billion of goodwill; its market cap is $4 billion.


Those kinds of numbers -- where the balance sheets are clearly out of whack with market sentiments -- don’t necessarily mean the companies will be required to slash asset values. But they are strong indicators that big writedowns may be needed. The test under the rules ultimately comes down to management’s cash-flow projections, and whether they are strong enough to justify the goodwill on the books. That’s why goodwill writedowns can be an important signal about the future.
Xerox had an infamous accounting scandal more than a decade ago that resulted in a $10 million fine by the Securities and Exchange Commission. The penalty was a record at the time for an accounting-fraud case. Six former executives, including former Chief Executive Officer Paul Allaire, paid $22 million in SEC settlements in 2003. The last thing Xerox and its CEO, Ursula Burns, should be giving investors is a reason to wonder whether they can trust the company’s numbers.

The market has already decided it has one.