HP Inc. (HPQ - Free Report) recently unveiled HP LaserJet Pro M15 and M28 series, the smallest laser printer targeted at the owners of small and micro businesses. The new models, which can fit in a small space, are aimed at providing efficient printing experience.
These can print about 18 to 19 pages per minute and can be operated via the HP Smart App. Per the press release, the printers are also capable of supporting “Apple (AAPL - Free Report) AirPrint; Google (GOOGL - Free Report) Cloud Print, Mopria-certified and Wi-Fi Direct.”
Notably, with the rise in short-term contractual and freelancing jobs, business structures are witnessing changes. Per a recent article by World Economic Forum, around 99% of the private sector in the United Kingdom comprises small businesses.
With the changing requirements of the business world, the easy-to-carry mobile printers are much in demand. We believe the lucrative features of the company’s “lowest priced” printers will drive demand going ahead, thereby boosting its top line. Notably, the printers will be available in the market after April 2018.
HP in Printing
After its split from parent company Hewlett-Packard in November 2015, HP’s efforts to revamp the printing business have been encouraging.
The company acquired Samsung Electronics’ printer business, which seems to be a strategic fit for HP. It has expanded the company’s printing business, with the addition of 6,500-plus printing patents owned by Samsung.
Additionally, the company is also making efforts to solidify its 3D printing business capabilities. HP is currently focusing solely on industrial markets in this respect unlike 3D Systems (DDD - Free Report) and Stratasys. This is where HP lags these two companies currently.
Nevertheless, the company’s efforts are showing results as it registered the fourth consecutive quarter of print business revenue growth in first-quarter fiscal 2018. We believe these continued attempts will enable the company to keep up the momentum going ahead.
HP carries a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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