HP predicts industry growth next year

Vendor expects technology spending to rebound in 2010
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Vendor expects technology spending to rebound in 2010

Hewlett Packard has predicted that consumer spending will increase next year, and expects revenue to be boosted by three per cent.

According to the Financial Times, HP’s CEO Mark Hurd told Wall Street analysts that the company expects its core markets of PC, services and printing to grow more than the wider market, and that the company is in a better position than any time in the last five years.

HP claims that its projections of three to five per cent sales growth are conservative, as its large size enables it to cut better deals with component suppliers and the growing popularity of digital media will boost its print business.

His comments have further fuelled sentiment in the channel that the IT industry is set for a return to growth in the coming months.