HP to stop making digital cameras

Didn’t it seem like every known manufacturer was pumping out digital cameras last holiday season? Well, after seeing a huge decrease in market share in the last couple of years, Mark Hurd (CEO of HP) decided to exit this market. Of course, HP’s new strategy is simply to get everyone to print more:

It will stop manufacturing its own cameras, and take a $30 million charge to refocus investments on its Print 2.0 strategy, which involves making Web content easier to print and encouraging more printouts.

Their market share peaked at 15%, the number 3 position in 2001 down to to 4%, the number 8 position in mid-2006. Sounds like HP made a wise decision. You still might see the HP brand on cameras as the have plans to license the design and distribute digital cameras.

Read [TechCrunch]