THREAD ---Could this be the end of the stupid price wars that we have seen this year ?
Dow Jones Newswires -- July 19, 1998
Hewlett-Packard Platt Aims To Overtake IBM In PC Mkt -Report
FRANKFURT (Dow Jones)--Hewlett Packard Co. (HWP) aims to overtake rival International Business Machines Corp. (IBM) in the personal computer market this year and belong to the top three in the PC market by 2000, Hewlett-Packard Chairman Lewis Platt said in an interview published the German newsmagazine Der Spiegel Sunday.
"It would be enough for me to belong to the top three PC providers by the year 2000," Platt said. "IBM isn't that much bigger than we are, and I'm convinced we'll take over IBM in the PC market already this year."
Platt said the the group is already ranked number three or four in the global PC market, "depending on which market studies you take."
However, he was more pessimistic about overtaking rival Compaq Computer Corp. (CPQ), whom he called "a tougher competitor," especially given the ongoing price wars in the PC market.
Platt also warned that the Asian financial crisis would adversely affect growth in the next several years.
"Since I don't expect the situation (in Asia) significantly improves in the next two or three years, the crisis will naturally hurt our growth forecasts," he said. -By Helen Fessenden; 0049 69 256 165 00;hfessenden@ap.org
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