HP earned $2.8 billion in Russia in 2008

By the end of 2008 the business of HP in Russia grew by 30% and, as analysts said, reached $2.8 billion in value.

In 2007 the revenue of the vendor in the Russian Federation was over $2.2 billion (over 2% of the total revenue of HP at the global scale) and the business growth was 28%, according to CNews Analytics. In 2008 the business growth was over 30% and the total revenue is around $2.8 billion. Still, HP did not reveal the exact amount.

As for 2008, the key growing segments for the U.S. giant were data storage systems, blade-servers, tech services, desktops and laptops. The year of 2008 was also very fruitful in terms of work stations, where the company reached the 45% market share, according to the data of IDC Russia.

The company is also the leader in sales of printing devices - its market share is 44.5%. The total number of shipments of printers and MFPs was around 2.3 million units. The most important growth was observed in the segment of MFPs: MFPs totaled at the 53% growth rate as compared to 2007. "This is the global trend and it's taking place locally, in Russia", said Owen Camp, HP's regional director in Russia.

HP plans to open representative offices in a number of Russian cities, amongst which are Kaliningrad, Sochi and others.

Source: cnews.ru

Key words: HP, news, Russia, printer market