HP starts local manufacturing of laptops, other devices
HP becomes the first global computing giant that has begun manufacturing laptops in India, in addition to desktop towers, mini desktops, and display monitors, as part of the government's 'Make in India' programme and production-linked incentive (PLI) scheme for electronics. It is also the country's top seller with a 31.5% market share, has increased its Made-in-India reputation by investing alongside manufacturing partner Flex at the latter's Chennai site. According to HP MD Mr. Ketan Patel, HP is expanding its locally created product line and are not afraid to make additional investments. HP's local drive comes at a time when the government is promoting domestic electronics manufacture aggressively, announcing plans such as a PLI for IT hardware and a US$ 10 billion plan to localise semiconductor production. HP’s revenues are expected to be about US$ 3 billion and its sales climbed 59% in 2021.
The demand for digital items such as laptops and desktops has increased dramatically as a result of factors such as work-from-home and education-from-home. With its product line, the company has made significant gains in the gaming and lifestyle areas, in addition to gaining traction in the small and medium enterprise category. The global shortage of semiconductors operated as a barrier in terms of customer delivery, however this aided HP and its competitors such as Dell, Lenovo, and Apple. With devices like HP EliteBooks, HP ProBooks, and HP G8 series notebooks, HP is manufacturing such a wide range of laptops in India for the first time.
Disclaimer: This information has been collected through secondary research and IBEF is not responsible for any errors in the same.