Hp: No Longer Lost In Cyberspace?

Already, investors are applauding the company's Net strategy

By rights, the mid-'90s Internet explosion should have been manna from heaven for Hewlett-Packard Co. One of the largest users of the Net, it was also a leading supplier of the powerful computers that connect the Net. And unlike competitors, HP sells millions of printers, PCs, scanners, and other devices--the on- and off-ramps to cyberspace. But instead of a cyberboost, HP has downshifted from 20%-plus revenue growth in the mid-1990s to around 10% in the past two years. While rivals Sun Microsystems and IBM have roared to prominence, HP has been an Internet underachiever. "Customers were getting a picture of the future from Sun and others, but not from us," says HP CEO Lewis E. Platt.

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