Hewlett-Packard continues to dominate personal computer market

Hewlett-Packard continues to dominate personal computer market

Hewlett-Packard has managed to take away a major slice of the personal computer market from struggling rival Dell in the most recent quarter.

Market analysts believe that the company still has enough room to grow in this market.

HP’s laptop sales jumped 40 percent in the quarter compared to the same period in the previous year. However, the revenues in desktop sales were down 1 percent.

Shaw Wu, an analyst with American Technology Research added: “They clearly gained a lot of share. We were expecting strong results in PCs but we didn’t expect them to be this strong. They’re basically beating up Dell more and more, and there’s room for them to gain more share. From Dell’s perspective that could be very scary.”

HP said that it earned $1.55 billion, or 55 cents per share, for the quarter ended Jan. 31. The revenues for this period were $25.1 billion. Mark Hurd, HP’s chairman and chief executive officer said in a statement: “HP delivered a strong first quarter, with improved margins and solid revenue growth across our businesses. We have a lot of work and opportunities ahead of us. I am confident we can continue to execute with discipline and deliver a year of strong financial returns.”