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Technology Stocks : HWP -- Hewlett Packard

HPQ 27.67

+0.6%

Oct 31 9:30 AM EDT

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To: Dave B who wrote (4688)	5/7/2002 11:54:48 AM
From: Dave B	Read Replies (1) of 4722

HP expected to eliminate at least 4 product lines LONDON, May 07, 2002 (AFX-Asia via COMTEX) -- The newly merged Hewlett-Packard is expected to announce today that it will cut at least four major product lines because of its merger with Compaq Computer Corp, USA Today reported without citing a source. At a launch party today, the new giant is also expected to say it will take up to two years to make the 15,000 job cuts it expects. And it will sell more products directly to business customers as opposed to via resellers -- an aggressive move that could undercut some of the 30,000 HP and Compaq resellers in the US, the daily said. "I'm concerned they put themselves in open competition with us," said John Sheaffer, CEO of Sysix, an HP and Compaq reseller. The new product lineup will include: HP's market-leading printers; Compaq's iPaq handhelds; HP's Pavilion and Compaq's Presario consumer personal computers; Compaq's Evo business PC; and Compaq's ProLiant Windows-based servers. Among the product lines that have or will be axed are: HP's handheld model, Jornada; its Vectra business PC; and its Windows-based servers. shw/cmr NNN

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