Hewlett Packard To Pursue Mike Lynch’s Estate For Up To $4 Billion
Hewlett Packard Enterprise has confirmed it will push ahead with a high court lawsuit against the estate of the deceased tech tycoon Mike Lynch in which it is seeking damages of up to $4 billion. From a report: The US company said in a statement it would follow the legal proceedings “through to their conclusion” despite Lynch’s death last month when his yacht sank off the coast of Italy. HPE won a civil claim against Lynch in the English high court in 2022, after accusing him and his former finance director Sushovan Hussain of fraud over its $11 billion takeover of his software company Autonomy in 2011.
A ruling on damages is expected soon, although the judge presiding over the case, Mr Justice Hildyard, wrote in 2022 that he expected final damages to be “substantially less than is claimed.” Lynch, 59, who was cleared in a separate criminal fraud trial over the Autonomy deal in the US in June, and his 18-year-old daughter Hannah, were among seven people who died after the Bayesian superyacht sank off the coast of Sicily last month.
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HP Resurrects ’90s OmniBook Branding, Kills Spectre and Dragonfly
HP announced today that it will resurrect the “Omni” branding it first coined for its business-oriented laptops introduced in 1993. The vintage branding will now be used for the company’s new consumer-facing laptops, with HP retiring the Spectre and Dragonfly brands in the process. Furthermore, computers under consumer PC series names like Pavilion will also no longer be released. “Instead, every consumer computer from HP will be called either an OmniBook for laptops, an OmniDesk for desktops, or an OmniStudio for AIOs,” reports Ars Technica. From the report: The computers will also have a modifier, ranging from 3 up to 5, 7, X, or Ultra to denote computers that are entry-level all the way up to advanced. For instance, an HP OmniBook Ultra would represent HP’s highest-grade consumer laptop. “For example, an HP OmniBook 3 will appeal to customers who prioritize entertainment and personal use, while the OmniBook X will be designed for those with higher creative and technical demands,” Stacy Wolff, SVP of design and sustainability at HP, said via a press announcement today. […] So far, HP has announced one new Omni computer, the OmniBook X. It has a 12-core Snapdragon X Elite X1E-78-100, 16GB or 32GB of MPDDR5x-8448 memory, up to 2TB of storage, and a 14-inch, 2240×1400 IPS display. HP is pointing to the Latin translation of omni, meaning “all” (or everything), as the rationale behind the naming update. The new name should give shoppers confidence that the computers will provide all the things that they need.
HP is also getting rid of some of its commercial series names, like Pro. From now on, new, lower-end commercial laptops will be ProBooks. There will also be ProDesktop desktops and ProStudio AIOs. These computers will have either a 2 modifier for entry-level designs or a 4 modifier for ones with a little more power. For example, an HP ProDesk 2 is less powerful than an HP ProDesk 4. Anything more powerful will be considered either an EliteBook (laptops), EliteDesk (desktops), or EliteStudio (AIOs). For the Elite computers, the modifiers go from 6 to 8, X, and then Ultra. A Dragonfly laptop today would fall into the Ultra category. HP did less overhauling of its commercial lineup because it “recognized a need to preserve the brand equity and familiarity with our current sub-brands,” Wolff said, adding that HP “acknowledged the creation of additional product names like Dragonfly made those products stand out, rather than be seen as part of a holistic portfolio.” […]
As you might now expect of any tech rebranding, marketing push, or product release these days, HP is also announcing a new emblem that will appear on its computers, as well as other products or services, that substantially incorporate AI. The two laptops announced today carry the logo. According to Wolff, on computers, the logo means that the systems have an integrated NPU “at 40+ trillions of operations per second.” They also come with a chatbot based on ChatGPT 4, an HP spokesperson told me.
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HP Turns Back On $1 Billion In Annual Sales By Quitting Russia, Belarus
“Considering the COVID environment and long-term outlook for Russia, we have decided to stop our Russia activity and have begun the process of fully winding down our operations,” said CEO Enrique Lores on a Q2 earnings call with analysts. Lores says “business there accounted for approximately $1 billion in revenue in fiscal year 2021.” The Register reports: HP was among the first wave of tech companies to suspend shipments to the countries soon after Russia invaded its neighbor on February 24, but now the company’s president and CEO Enrique Lores is making the move more permanent. […] HP’s Lores revealed the exit of Russia and Belarus as HP reported financial results for Q2 of its fiscal 2022 ended 30 April: revenue grew 4 percent to $16.5 billion including a 9 percent hike in the Personal Systems Group to $11.532 billion, and a 7 percent drop in Printing to $4.963 billion.
In the PC unit, notebooks were up 3 percent to $7.734 billion, and desktops were up 28 percent to $2.855 billion as corporate customers refreshed their estates. […] HP recorded a net profit of $1 billion for the period, lower than the $1.228 billion reported in the same quarter of last year.
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