H-P to Stop Developing Digital Cameras
Stock quotes in this article:
HPQ
SAN FRANCISCO -- Hewlett-Packard(HPQ Quote) will cease developing its own digital cameras, as the company shifts resources to other initiatives.
The Palo Alto, Calif., tech giant said Wednesday that it will take a $30 million pretax charge in its fiscal fourth quarter as a result of its plan to seek an "alternative business model" for its H-P-branded cameras. The company said it will continue selling its own digital cameras through the holiday season. In the first half of 2008, H-P hopes to have a deal in place with a manufacturing partner to design, source and distribute digital cameras under the H-P brand. The company said in a statement, "This shift in strategy is intended to enable H-P to accelerate its investment in Print 2.0 initiatives." These included furthering H-P's leadership position in home photo printing and online photo services, while accelerating the company's retail photo-finishing business. Shares of H-P closed Wednesday off 2.9% to $51.84.- Loading Comments...
- Loading Comments...
Featured Photo Galleries
| Dow Jones | S&P 500 | NASDAQ | 10-Year Note | |
|---|---|---|---|---|
| 10,023.42 | 1,069.30 | 2,112.44 | 35.03 |
Oil *
76.05
|
|
UP
17.46
|
UP
2.67
|
UP
7.12
|
DOWN
0.30
|
10 Yr
3.50%
SPDR Gold
107.43
|
|
+0.17%
|
+0.25%
|
+0.34%
|
-0.85%
|
Data delayed 20 minutes |














