I want to share our exciting news: Early this morning HP announced an agreement to acquire Samsung’s printing business. And a few hours from now, we will be launching 16 next-generation PageWide and LaserJet A3 multifunction printers, along with new services.
The importance of our partner relationships is underscored in each of today’s announcements: the biggest print acquisition not just in the brief span of HP Inc., but also in the storied history of Hewlett-Packard; and the signal of our bold attack on the copier space with a full lineup of advanced A3 multifunction printers.
Together these actions accelerate all of the strategic initiatives we announced less than a year ago after completion of the separation of Hewlett-Packard Company. They strengthen our core A4 products, they hasten our plan to disrupt the $55 billion A3 copier segment with superior printing technology, and they give us a powerful platform of technologies and tools for future innovation. They strengthen HP’s ability to serve customers as the leader in the worldwide printing industry, prove our firm resolve to capture more pages in A3, and demonstrate our commitment to create profitable growth opportunities for our channel partners.
HP is a smaller, more agile, more tightly focused company, a global leader with the muscle and brains of a Fortune 100 company and the heart and energy of a startup. We promised you that we’re going to take swift, bold actions to seize opportunities and win in every market and every segment where we can deliver profitable growth for us and for our partners. That’s exactly what you’re seeing today.
The acquisition of Samsung’s printer business has built-in momentum. For the past year we have been working closely with Samsung’s printer business to develop the A3 multifunction laser printers that we’re announcing today – so closely and successfully, in fact, that both companies recognized a complementary long-term fit.
With today’s product launches and the agreement to buy Samsung’s printer business, we are building the industry’s most complete and most secure A3 and A4 product portfolio, giving partners a full range of speed, price, finishing, and performance options. But we’re not just giving you more printers to sell; we’re creating the best all-around, end-to-end value proposition, including the industry’s best customer service experience.
We’re also creating exciting new opportunities for some of you in managed services. Customers are discovering that they can save money, predictably manage costs, increase flexibility, and reduce overhead through contractual services managed by trusted partners. It’s a rapidly growing area.
Transactional products from Samsung’s printer business will be fully integrated into our print portfolio and will be accessible to all of our Partner First partners. Contractual products from Samsung’s printer business will be accessible to select partners to complement the full portfolio already based on Samsung technology. We are announcing our new service-led business model for our A3 lineup today.
For more than three decades HP and Canon have had a highly valued, mutually beneficial relationship. Today’s agreement with Samsung will provide exciting new opportunities to strengthen this relationship with Canon, and we are confident that our partnership will continue stronger than ever. It’s a win-win-win scenario.