HP’s Printing & Imaging Group’s Executive Vice President Vyomesh Joshi, popularly known as VJ seems to be a man on a mission to put the printing major back on track. The company has suffered revenue losses in the past four of the five quarters from its printing segment.
Business Week has posted an article on the printing chief and his efforts to rejuvenate the 5% dip in consumer inkjet sales.
Analysts believe that the drop in revenue can be attributed to fewer homes printing of digital photographs.
Shaw Wu, an analyst at American Technology Research said – “They were hoping that with the explosion of digital cameras, people would find printing at home a big convenience,”
The truth lies in the complicated configuration of printing digital photography which includes finding the matching the inks, paper, and software settings, and more often than not, the quality isn’t comparable to the store.
From the article – Executive Vice-President Joshi, a 28-year HP veteran known as “VJ,” who’s credited with turning HP’s printing group into an industry powerhouse, has a multipronged plan for injecting sizzle into the group. To jog printing sales by the 4% to 6% HP has promised Wall Street, Joshi is investing in overseas markets, targeting commercial printing shops that have yet to embrace digital technology, and trying to push consumers to make more printouts of photos, boarding passes, maps, and other content from the Web. “We need to add $1.5 billion in revenue each year,” Joshi says. “It can’t come from one particular segment.”