Hewlett-Packard has unveiled a financial services and IT leasing
subsidiary to enhance its sales efforts worldwide by delivering a
broad range of financial services and asset management
capabilities.
HP Financial Services, a wholly owned subsidiary, would help
customers with the cost-effective management of accessing, managing
and retiring IT assets including hardware, software and services.
The subsidiary represents 4% of HP's total revenue, with leased
transactions accounting for 10% of total HP sales.
HP's merger with Compaq Computer earlier this year created a global
team of 1,500 IT financing professionals managing nearly $10bn in
assets in more than 50 countries.
"We are confident our subsidiary will help fuel company growth and
increase shareowner value," said Peter Blackmore, executive
vice-president of HP Enterprise Systems Group.
