Hewlett-Packard Company (NYSE:HPQ) is reportedly planning to launch a big and less expensive smartphone (also called “phablet”) as the company had been discussing its re-entry to the mobile industry for more than a year now.
According to report from The Information, the PC maker aims to introduce 6-inch and 7-inch smartphones for consumers in emerging markets including China, India, and the Philippines. The mobile devices will be sold at around $200 to $250 without carrier contract.
Hewlett-Packard’s second foray into smartphone market
In 2010, Hewlett-Packard Company (NYSE:HPQ) tried to establish its position in the smartphone market after acquiring PDA developer, Palm for $1.2 billion. However HP’s WebOS Touchpad and smartphone failed to attract consumers and the company decided to discontinue its WebOS operations the following year.
In his first-quarter letter to investors of Greenlight Capital, David Einhorn lashed out at regulators. He claimed that the market is "fractured and possibly in the process of breaking completely." Q1 2021 hedge fund letters, conferences and more Einhorn claimed that many market participants and policymakers have effectively succeeded in "defunding the regulators." He pointed Read More
Last year, Meg Whitman, chief executive officer of Hewlett-Packard Company (NYSE:HPQ), indicated that the company will eventually develop smartphones for consumers worldwide. Back then, Whitman said the company will not launch a new smartphone this year (2013), but the company aims to introduce a product in the future to avoid missing out on a huge segment of the population. According to her, “We don’t have any plans to introduce a smartphone in 2013, but we’ve got to start thinking about what is our unique play, how do we capture this element of the personal computing market?”
Whitman explains decision
Whitman explained that it is significant for Hewlett-Packard Company (NYSE:HPQ) to sell smartphones because it has become the primary computing device for consumers around the world. At the time, she said, “We don’t have any plans to introduce a smartphone in 2013, but we’ve got to start thinking about what is our unique play, how do we capture this element of the personal computing market?”
Earlier this year, The Verge confirmed that Hewlett-Packard Company (NYSE:HPQ) was developing tablets and smartphones powered by Google Inc (NASDAQ:GOOG)’s Android operating system. It had been reported that the company’s tablet would be integrated with the Tegra 4 chip from NVIDIA Corporation (NASDAQ:NVDA).
Whitman is confident that the five-year turnaround plan of Hewlett-Packard Company (NYSE:HPQ) is on track. The board of directors of the company recently raised her salary from $1 to $1.5 million.