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Technology Stocks : HWP -- Hewlett Packard -- Ignore unavailable to you. Want to Upgrade?

To: Kirk © who wrote (2800)	1/6/1999 2:50:00 PM
From: William Partmann	Respond to of 4722

Hewlett-Packard Says To Form Low-Cost Inkjet Unit PALO ALTO, Calif. (Reuters) - Computer giant Hewlett-Packard Co. (NYSE:HWP - news) said Wednesday it plans to form a low-cost inkjet printer division and offer printers for under $100. Hewlett-Packard, already a leader in the inkjet-imaging industry, said the new unit will be called Apollo Consumer Products Inc. and will complement HP's current product family while creating two distinct brands. ''With Apollo, we have an even lower cost structure by virtue of having a separate business with a small, core team and an extensive outsourcing business model,'' Antonio Perez, HP vice president and general manager of the Inkjet Products Group, said in a release. ''This allows us to bring even lower-priced products to market profitably,'' he added. Shares of HP closed at 69-11/16 Tuesday on the New York Stock exchange.