In recall news, on Tuesday, August 27th, Hewlett-Packard Company (NYSE:HPQ) issued a voluntary recall of over six million power cords due to a risk of overheating or fire. The cords came with HP and Compaq laptops and docking stations. The faulty cords are found in devices sold between September 2010 and June 2012.
The company has promised that customers will receive a free replacement for each defective power cord unit.
Joel Greenblatt Owned Hedge Fund On Why Value Investing Isn’t Working Now
Acacia Capital was up 12.27% for the second quarter, although it remains in the red for the year because of how difficult the first quarter was. The fund is down 14.25% for the first half of the year. Q2 2020 hedge fund letters, conferences and more Top five holdings Acacia's top five holdings accounted for Read More
Statement from Hewlett-Packard
HP released a statement regarding the power cord recall yesterday saying, “certain power cords shipped with notebook PC products and AC adapter accessories may pose a risk of a fire and burn hazard to customers.”
In the statement, Hewlett-Packard Company (NYSE:HPQ) explained that the recall only pertains to the cord that connects the power pack to the wall socket. the cord is labeled with the part number “LS-15”, and is integrally molded with the connector that plugs into the laptop charger.
According to the U.S. Consumer Product Safety Commission, HP is aware of 29 incidents of power cords overheating that has resulted in charring or melting. These incidents have resulted in two claims of minor burns and at least 13 claims related to property damage. There have been no serious injuries or fatalities associated with the defective laptop power cords to date.
More details on the power cord recall
According to company records, Hewlett-Packard Company (NYSE:HPQ) has sold and shipped more than 5.6 million of the defective power cords in the U.S. and almost 450,000 in Canada during the time period. Of note, not all units shipped during the indicated time range were affected. Only power cords labeled “LS-15” are defective.
Excerpt from CPSC recall notice
The CPSC notice stated: “Customers should immediately stop using and unplug the recalled power cords and contact Hewlett-Packard to order a free replacement. Consumers can continue to use the computer on battery power.”