According to a press release, this shift in strategy is intended to enable HP to accelerate its investment in Print 2.0 initiatives. These include furthering HP’s leadership position in home photo printing and online photo services, while accelerating the company’s retail photofinishing business.
Announced in May 2007, the company’s Print 2.0 strategy focuses on three areas: delivering a next-generation digital printing platform that increases print speeds and lowers the cost of printing for high-volume commercial markets; making it easier to print from the web; and, extending HP’s digital content creation and publishing platforms across all customer segments.
In the fourth fiscal quarter ending Oct. 31, 2007, HP will take a pre-tax charge of approximately $30 million related to its new camera business strategy.
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