HP Seeking OEM For Cameras

Hewlett-Packard Co. looking for original equipment manufacturer to design and distribute HP cameras as it shifts resources to focus on home photo printing and online photo services.

PALO ALTO, Calif. (AP) — Computer, printer and business software maker Hewlett-Packard Co. on Wednesday said it will seek an original equipment manufacturer to design and distribute its HP-branded cameras.
 
HP, as part of a growth plan, is shifting resources to focus on home photo printing and online photo services.
 
HP said it will take a $30 million charge in the fiscal fourth quarter related to the move.
 
The company will license an original equipment maker to design, source and distribute digital cameras under the HP brand.
 
HP said it will continue selling its own cameras through the holidays and expects to have a licensing agreement in place by the first half of 2008.
 
Shares of HP lost $1.57, or 2.9 percent, to end regular trading at $51.84.
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