January 2005

HP combined its PC and printer businesses

HP put its PC operations under the wing of printer VP Vyomesh Joshi, who will now head up the newly created Imaging and Personal Systems Group. Duane Zitzner, who’d been running the Personal Systems Group, is retiring. The two businesses posted comparable revenues for the most recent quarter of 6.5 billion, but the printer unit’s $1.1 billion in profit dwarfed the PC business earnings of $78 million. But at least HP made a profit in PCs; IBM’s recently-sold PC business hadn’t turned a profit for more than three years, according to the company.

Joshi has driven HP’s printer business to the industry’s top spot in printer profits during his 24-year career. Zitzner, a 15-year HP veteran, turned around the PC business and led it back into profitability. The new group is responsible for the company’s printer, imaging and supplies business, projectors and digital cameras, desktop and notebook PCs, handheld products, personal storage appliances and workstations. HP’s enterprise servers, support services, software and finance businesses make up the rest of the company’s portfolio.

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