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HP Introduces Multiple Products, Boosts Elite Portfolio

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HP Inc. (HPQ - Free Report) has launched various models under its PC product lines of EliteBook, Spectre and Pavilion Wave. Keeping the trend alive, the technology giant boosted its Elite portfolio, with the latest HP Elite 1000 Series and collaboration solutions at HP Reinvent.

The company’s latest offerings include HP EliteBook x360 1020 G2, HP EliteBook 1040 G4 and HP EliteOne 1000 AiO that features a high-definition (HD) screen that can easily connect to other devices.The company claims that these products are the world's slimmest full performance notebook PCs, which are likely to offer the ideal combination of enhanced performance, mobility and price.

The new offerings provide faster web access, increased durability and are equipped with larger displays. These products will enhance the web experience along with providing high-quality visuals. Moreover, the new line-up will add variety and functionality to some older notebooks and desktops, which in turn will be able to attract new clients.

HP Elite products cater to the current demand for ultra-thin, ultra-light, power efficient mobile products that are suitable for bring-your-own-device (BYOD) environment. Hence, these products should help the company hold its own in the sluggish PC market.

The announcement also reflects a strategic partnership between Microsoft Corp. (MSFT - Free Report) and HP to enhance the user experience across HP’s products portfolio.

Price and Availability

Coming to pricing and availability, HP EliteBook x360 1020 G2 and HP EliteBook 1040 G4 both start at $1,379 respectively, and are expected to be available in September. The HP EliteOne 1000 AiO G1 starts at $1,259 and is also expected to be available from the same month.

The HP USB-C Mini Dock and HP USB-C Power Bank start at $109 and $139, respectively and both are expected to hit the market from September. Moreover, the HP Elite Displays and HP Wireless Collaboration Keyboard have the base price starting from $164 and $89, respectively. Both of them are now available in the market.

Few Facts

According to the source, 54% of the total work is being done outside the office premises and total home working hours are expected to surge by 150% in the coming two years. This growth is mainly driven the increasing number of millennial workforce, with around 59% of millennials not being satisfied with the present work scenario.

The increased usage of technology led to increase in security concerns such as endpoint attacks, which has more than doubled over the last six years. Keeping this in mind HP’s latest solutions are specially designed to offer better productivity, stimulation, and change the way people work and live.

Last Words

HP’s shares have underperformed the industry to which it belongs to in the year-to-date period. While the stock has returned 31.3%, the industry gained 38.4%.

However, HP’s efforts to turn around its business have been commendable. The company is working on product innovation, differentiation and enhancing the capabilities of printing business to stabilize the top line.

The recently released PC shipment data by IDC depicts that HP’s restructuring initiatives, such as focus on product innovations, pricing, marketing and sales activities, divestment of non-core assets as well as cutting jobs to lower costs, are paying off. Per the data compiled by IDC, HP, witnessed year-over-year shipment growth for the fifth quarter in a row, after registering decline for five consecutive quarters.

With the start of shipping A3 multifunction printers to more than 80 countries, which covers all key markets, HP can revive its printing business and grab a bigger share in the inkjet printer market. Further, the acquisition of Samsung’s printing business is anticipated to support the development and manufacturing of printers.

However, macroeconomic challenges and tepid IT spending remain near-term concerns. Competition from the likes of International Business Machines (IBM - Free Report) and Apple (AAPL - Free Report) adds to woes.

HP currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

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