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HP’s COVID-19 recovery may be measured in months not weeks

China 2435 Coronavirus 303 Info Tech - Tech Hardware 564 U.S. 4297

HP Inc. has faced a wide range of supply chain challenges due to COVID-19 linked factory closures, but is “largely back to full capacity by early May” according to CEO Enrique Lores. While production may be up to speed, the time taken to ship between countries by sea means shipments arriving in the U.S. are still in decline. Panjiva’s data shows U.S. imports linked to the firm from China fell by 26.4% year over year in April, offset in part by a 28.8% rise in those from Asia ex-China. Disruptions will continue into the quarter starting May 1 according to CFO Steven Fieler. The group’s pr...

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