Boston, MA 08/29/2014 (wallstreetpr) – 3D Systems Corporation (NYSE:DDD), one of the frontrunners in the 3D printing technology, said it would showcase another of its most advanced products and solutions for the 3D printing market. The company is trying to stay ahead of the competition as more companies announce their interest in entering 3D printing business, a move likely to increase competition. Hewlett-Packard Company (NYSE:HPQ) is among the tech companies that have shown great interest in 3D printing technology.
Driving innovation
At the upcoming 2014 International Manufacturing Technology Show, 3D Systems said they will release advanced products that are designed for the factory floor and designers’ desktop. The Show will take place in Chicago next month. The company intends to launch its latest 3D printer and 3D design software. That will demonstrate the company’s multipronged approach to the 3D business by combining hardware and software aspects of the technology. To keep up with the competition and also to position itself for the looming opportunities in the 3D printing market, 3D Systems continues to innovate for breakthrough products, especially for the manufacturing market.
While announcing their planned plunge into 3D printing business, Meg Whitman, the CEO of Hewlett-Packard Company (NYSE:HPQ), said they approach will mainly focus on manufacturers rather can consumers. She said 3D printing shares a lot with their clear toner business, and that makes it easy for them to develop products organically. HPQ is managing a turnaround. It posted revenue of $27.6 billion in the latest quarter, ahead of $27.2 billion last year and $27 billion that most analysts estimated.
Analysts are cautious
The entry of HPQ into 3D printing means that 3D Systems Corporation (NYSE:DDD) has another rival to deal with in the market. Most analysts believe that 3D is a promising business, but they are not excited as much about 3D Systems. On the average, analysts think that the stock is good as a “hold”. The company reported its 2Q last month in which EPS was $0.16, behind $0.18 that was the consensus estimate.
