Asia to be HP star performer

Asia to be HP star performer

SINGAPORE (Reuters): Hewlett-Packard Co, which stunned Wall Street last week by missing its profit targets, said on Tuesday it expects the Asia-Pacific region to account for at least 20 percent of its global sales within three years.

The current share is 15 percent but Asia-Pacific is the computer maker's fastest-growing region with sales soaring 40 percent in the year just ended, Siaou-Sze Lien, Hewlett-Packard's managing director for Asia Pacific, told a news conference.

"The Asia-Pacific has become a significant growth engine for H-P worldwide," she said.

The world's No. 3 personal computer maker, which is in the middle of a makeover by glamorous chief executive Carly Fiorina, chalked up net revenue in Asia of US$7.1 billion in its fiscal year ended October 31, up from US$5.1 billion the year before.

The firm increased worldwide sales by 15 percent over the year to US$48.8 billion.