Boston, MA 06/02/2014 (wallstreetpr) – Hewlett-Packard Company (NYSE:HPQ) will be losing opportunity to develop new products with Beats Electronics shortly after Apple Inc. (NASDAQ:AAPL) makes the $3 billion acquisition.
The technology company which started off with personal computers and printers, has had difficult times advancing with the evolving market when focus shifted to cloud computing and mobile devices. HP has failed to adopt the changing trends and has been struggling with the launch and increasing popularity of Smartphone. The company has however been working with Dr. Dre’s Beats Electronics since 2011, developing and selling new audio products.
Beats And iTunes
Apple has recently announced its plan to acquire Beats Electronics and Beats Music, which the iPhone manufacturer expects to complete the $3 billion acquisition by the end of 2014. HP will, however, still continue to sell its products until next year. Hewlett-Packard Company (NYSE:HPQ) also enjoys the rights to continue developing new products with the American producer for the rest of 2014. In fact, the company has announced launching a new lineup of products which will be infused aggressively with Beats Audio experience. HP aims to launch this new series of products by the end of 2014.
While HP will have to get busy with brain storming new ways of luring customers and offering them new technology and features with its PCs until 2015, Beats will by the time be integrated with Apple’s line of products. The entire team of Beats, including its co-founders, Dr. Dre and Jimmy Iovine, will supposedly be serving under Eddy Cue, Apple’s iTunes’ chief.
Difficult Times
Hewlett-Packard Company (NYSE:HPQ) is anticipated to face difficult times with this advancement as it is to miss its opportunity with Beats products which were integrated with the as many as 20% of the company’s personal computers. It has also been experiencing declining revenues and had recently revealed that it seeks to lay off as many as 50,000 employees.
