Dion Weisler, CEO of HP Inc, made the comments during an analyst's call to discuss the company's disappointing 4Q 2015 results, The Imaging Channel reported.
Weisler also said in the call that the pricing pressures that had led to the plummeting prices had been accelerated by on-going effects of currency movements, at a rate that surpassed the OEM's expectations, with the overall printing market weaker than HP Inc had expected.
Digitek said that last month the OEM increased the prices on a number of its "small format ink cartridges, print heads, photo value packs and small format media" by an average of 5.2%.
Full year net revenue for the total Printing and Personal Systems group totalled $52.7 billion, down from the 2014 figure of $57.5 billion. 4Q 2015 hardware units sales were down 17% for the full year, while commercial hardware fell 23% year-on-year, as did supplies revenue, by 10%.
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Source: The Recycler
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