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May 31, 2006
PALO ALTO -- HP today unveiled new initiatives in its strategy to help two converging industries, telecom and entertainment, benefit from the historic shift to digital media.
Together, the two industries, which are evolving toward a single, expanded market, account for about 10% of HP revenue, approximately $9 billion across all HP business groups.
As part of its expanded effort, HP announced a new name for the business group that serves these key industry customers – HP Communications, Media & Entertainment (CME). HP CME will continue to serve the world’s wireless and wireline service providers, network equipment suppliers, and a broad array of companies that are creating and distributing content – that is, the movies, music, news, and sports that entertain people around the world. Previously, HP CME served these customers as the HP Network and Service Provider business.
To help telecom and entertainment customers benefit in a converging market, HP is committing additional resources to the CME unit to accelerate product development and increase sales and marketing capabilities around the world, including deepened sales coverage in selected accounts globally, the hiring of a worldwide executive for the Media & Entertainment industry and increased investment in solutions that address digital content management and distribution.
“HP has a long history in both the media & entertainment industry and the telecommunications industry,” said Shane Robison, executive vice president and chief technology officer, HP. “These two dynamic and technology-oriented industries continue to be a key part of our corporate strategy, and the transformation of our NSP industry vertical business to Communications, Media & Entertainment [CME] is another exciting step in our thought leadership and solutions investment.”
HP Inc. (NYSE: HPQ)
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