HP Promises Undisturbed Innovative Measures Despite Plummeting Profit

By Edward B. Doong

Feb 24, 2013 02:05 PM EST

PC computer giant Hewlett-Packard Co. said that it is set to make innovation steps without disruption despite plummeting profit in the past quarter.

The company reported 16% decline to $1.2 billion in its net profit for its first fiscal quarter from the same period a year ago. However, HP was able to recover from the $6.9 billion loss during the previous quarter which it incurred due to huge writedown in the value a UK company accused of accounting improprieties.

Currently, HP has been in a move for a major reconstruction in response to its struggle from the shift of world consumers from personal computers to android phones, tablets, iPads and high-end devices, planning to cut the number of its worldwide employees.

Meg Whitman, company's chief executive, stated in a statement that she might be announcing changes at the firm as part of reconstruction but did not specify. 

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