New Delhi: Tech major HP expects strong growth in its printer business in the country, driven by increasing uptake by "digitally active" consumers who are looking for innovative and cost-friendly printing solutions.
"People today are looking for printing solutions that look good and are also cost-effective. For example, parents of young kids who may get projects from schools. The consumer segment is witnessing strong growth," HP India Director (Printing Systems) Parikshet Singh Tomar said.
The consumer market is growing at 20 per cent year-on-year as per the data available for 2015, he added.
Of the total printing business of HP India, consumer segment accounts for about 35 per cent of the sales.
The company today launched its 'DeskJet Ink Advantage 3700 All-in-One' (AiO) printers, priced at Rs 7,176. The company claims this is the world's smallest all-in-one inkjet printer.
The overall market of Inkjet AiO is 1.3 million units per annum. HP has market leadership in the category with 45 per cent share.
"The product is an ideal choice for the always connected consumers. It combines robust print, scan and copy capabilities and offer easy printing from Facebook and Instagram as well. It is compact and is designed to match the lifestyle needs of the millennials, students and parents," he said.
He added that HP aims to be the "trendsetter" in style and technology by introducing innovative and trendy products.
The printer will be available across online and offline retail channels.
Earlier this month, HP had announced that it will acquire Samsung Electronics' printer business in a deal valued at USD 1.05 billion to further consolidate its position in the USD 55 billion global A3 copier industry.