With so many different digital cameras available in the market, is it surprising to hear that HP decided to step out of the digital cameras scene?
Hewlett Packard used to be ranked third in digital cameras market leaders, but that was back in 2001. Since then, from owning 15% market share, they have declined to 7% at the end of 2006 and as low as 4% by the end of June 2007 (TechCrunch).
Realizing their losses and missing the great profits previously viewed from simple printer cartridges, they have decided to focus on their Print 2.0 development. Print 2.0 is a way to make digital and online printing a lot easier and convenient. This movement of course will encourage more printing to be done, and moves towards increased sales of their profitable print cartridges.
As of now, HP will stop manufacturing digital cameras and will just continue to sell what is already available.
Does HP’s retreat seem necessary and somewhat unavoidable?
Via: Pocket Lint, Picture by 365holly