HP really wants you to keep using your printer - and will even send you paper
HP to deliver paper to Instant Ink subscribers
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HPhas launched a new initiative to try and claw back falling revenues in theprinterspace.
The company will now be offering a subscription-based paper delivery service for its Instant Ink subscribers as it looks for new revenue sources.
“We have been testing now the service of delivering paper to these customers, which is another key value proposition because if you print at home having to go buy paper [is] heavy, very painful, and we are going to be delivering that,” Enrique Lores, chief executive at HP said at the Cowan 50th Annual Technology, Media and Telecom Conference.
What’s behind the move?
The latest move is intended to replace some of the lost revenue that the printing giant, which traditionally earned high revenue from ink sales, has lost in the current hybrid working climate.
“The amount of printing in the office will be around 80% of what we were projecting it to be before the pandemic started,” Lores added.
HP has been pivoting to a more subscription-based model for years.
The hardware giant raised the prices ofprintersthat were compatible with third party ink and supplies in 2020, and instead chose to push HP+, a cloud-based printing service which can include automatic deliveries of supplies for users.
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Late in 2021,HP decided to endits popular “free ink for life” plan, which allowed its customers to print up to 15 pages per month, and also raised the price of theInstant Inksubscription service (potentially by up to 50% in some cases) in March 2022.
It’s unclear whether HP’s efforts to reinvent itself are paying dividends just yet, the company is “losing money with close to 25%” of its customers according toThe Register’sreporting of the conference.
Like many other firms, the company has been impacted by the global issues that are impacting supply chains.
HP unveils its vision for the perfect hybrid working setup>HP finally fixes bug affecting hundreds of laptops and PC models>Your HP printer could be facing the risk of a serious cyberattack
HP’sInkjet printersandLaser printersare popular worldwide, and the firm has reportedly sacrificed around $1 billion in sales by pulling out of the Russian and Belarusian markets.
The future of the world of office printers may not be assured, however that didn’t stop legendary investor Warren Buffet from recently disclosing a substantial stake in the company,buying around 121 million shares, or 11% of the computing giant.
ViaThe Register
Will McCurdy has been writing about technology for over five years. He has a wide range of specialities including cybersecurity, fintech, cryptocurrencies, blockchain, cloud computing, payments, artificial intelligence, retail technology, and venture capital investment. He has previously written for AltFi, FStech, Retail Systems, and National Technology News and is an experienced podcast and webinar host, as well as an avid long-form feature writer.
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