Enrique Lores, the CEO of Hewlett-Packard (HP Inc.), commented on how HP’s new computers and AI capabilities will help the PC market to grow. On Tuesday, the company posted its fiscal fourth-quarter earnings. The earnings of the company were mostly close to its estimates, as the revenue was slightly less.
Although the revenue was a little less, HP CEO Enrique Lores is confident about the company’s profit opportunities in the near future. He is optimistic of a renewed demand in the PC market in 2024. He also added that the company’s new computers, loaded with AI features, will help the PC market to grow and accelerate in the next few years.
In an interview with CNBC, he added –
“This will drive significant momentum in the category, some in ’24, more in ‘25, more in ’26. […] As we have said before, we think this is going to double the growth of the PC category starting next year.”
HP CEO Lores added that the PCs will come with a new technology. This will enable PC users to have access to the cloud with their PCs. As a result, they will receive analysis “locally” from a complex language model. He also claimed that HP’s new computers will not be more expensive than its other models. The average price of those new computers will only be 5-10% higher than other computers.
HP CEO Lores also commented that the PC market is in its recovery stage. Furthermore, this will lead to further growth as Windows 11 replaces Windows 10. The company is planning to ship out all its new PC units (powered by AI) in the second half of 2024.