HP zooms in on Print 2.0

Hewlett-Packard said it would stop making its own line of digital cameras in order to shift more resources toward its printing business, reports IT News.

While HP plans to continue selling cameras under its brand, it is looking for a manufacturer to license the design, build the devices and distribute them, the company said in a statement. HP will continue selling its own cameras through the holiday season, but intends to partner with a manufacturer in the first half of next year.

The move is to shift more resources to what HP calls its Print 2.0 initiative, which the company unveiled in May at its Imaging and Printing Conference, in New York.

Konica Minolta and Danka Business Systems announced the companies have signed a strategic relationship agreement, enabling Danka to distribute Konica Minolta products in the United States, says CNN Money.

Under the terms of the agreement, Konica Minolta will market its complete line of bizhub colour printers and network-ready multifunctional products and network printers, in select Danka markets beginning in early 2008.

"Konica Minolta`s partnership with Danka is evidence of expanding strategic digital imaging sales opportunities in our channel, and further penetrating the colour and production print markets," said Steve Jones, executive VP of US Dealer Sales at Konica Minolta Business Solutions USA.

Hewlett-Packard`s fourth quarter revenue and profit exceeded Wall Street expectations, thanks to across-the-board strength and particular growth in the laptop business, its software market, and the printer ink business, according to Internet News.

HP chairman and CEO Mark Hurd said the board of director had authorised an additional $8 billion for stock buybacks, a sign the company believes its shares are undervalued. The company made $12 billion in buybacks and dividends in fiscal 2007.

HP`s sales rose 15% over the same quarter last year to $28.29 billion, nearly $1 billion more than the $27.4 billion Wall Street was predicting. Net income rose 28% for the quarter to $2.16 billion, or 60 cents per share.