HP sees low-single-digit tech spending rise in 2003
SAN FRANCISCO, Oct 22 (Reuters) - No. 1 personal computer and printer maker Hewlett-Packard Co. (HPQ) is planning for corporate technology spending to grow in the low-single-digit percent range next year, Chief Executive Carly Fiorina said on Tuesday.
"Many expect another downward revision to IT (information technology) spend later this month due to perceived ongoing softness," Fiorina said in a Webcast of an analysts meeting.
"There is commentary that there will be nominal growth in 2003. Nominal depends on who you talk to. Personally we are planning for, I would say, low single-digit growth."
Fiorina said that HP was gaining competitive ground against International Business Machines Corp. (IBM) , Sun Microsystems Inc. (SUNW) and Dell Computer Corp. (DELL) as customers looked for integrated, value-oriented technology. HP's May merger with Compaq Computer Corp was no longer seen as a source of instability, she said.
Fiorina said that long term, through 2006, technology spending would be growing in a range of 8 percent to 10 percent, or of 6 percent to 9 percent, as companies that overspent in the 1990s focused on technology value. |
