For those who own stock with the computing monster HP, you may have noticed a huge drop in the stock price this week, due to the announcement the company has made that it will be pulling out of some markets, and will only be making computers and processors from now on. The company has indicated it will no longer be making tablets or their HP phones and smart phones, due to the tough competition and the giants in the fiedl, Apple and Google. HP has claimed that they are just not reaching the sales figures they had been expecting in these markets, and, in fact are losing money on these technologies.
It has also been stated that large retailers like best buy were no longer going to keep their products on stock, due to taking up too much storage space, and not brining in the revenues that were promised by the tablets and smart phones which HP has introduced. For this reason, the stock price declined this past week, also due to the economic factors in the market in general, but mainly due to the large pull out of their product lines, which consumers heard about in a shock announcement.
