Hewlett-Packard Co News

HP Inc , the hardware business of former Hewlett-Packard Co, said it expects to cut about 3000 to 4000 jobs over the next three years.

HP Inc said it was accelerating its restructuring programme and now expects about 3,000 people will exit by the end of fiscal 2016 instead of over three years as it announced in September.

Hewlett-Packard Co will sell a controlling 51 percent stake in its China-based data-networking business to China`s Tsinghua Unigroup for at least $2.3 billion, forming a partnership designed to create a Chinese technology powerhouse.

Hewlett-Packard Co , the world`s No. 2 PC maker, reported a quarterly profit above market estimates, helped by cost cuts, sending its shares up more than 3 percent in after-market trading.

British IT entrepreneur Mike Lynch said Hewlett-Packard Co had failed to produce a "smoking gun" to back its claim he masterminded a complex fraud that led it to overpay by more than $5 billion when HP bought Autonomy in 2011.

Hewlett-Packard Co said it had entered into a partnership to equip its PCs, tablets and other gadgets with audio technology from Danish television and sound system maker Bang & Olufsen.

A US judge on Friday granted preliminary approval to Hewlett-Packard Co`s settlement of shareholder litigation involving the information technology company`s botched acquisition of Autonomy Plc.

A day after Hewlett-Packard Co revealed plans for ground-breaking 3D printing technology, 3D-printing manufacturer Stratasys Ltd said it is expecting more competition and pointed to its strong position in a market expected to explode by the end of the decade.