HP Looks To Gain Ground In Multifunction Printers New Focus On So-Called MFPs As market picks up steam, HP hopes to grab sales from leaders Canon, Xerox.(INTERNET & TECHNOLOGY)

Byline: MURRAY COLEMAN

Behold the office printer -- while you can. Printers, copiers, faxes and scanners are being phased out in favor of multifunctional machines that do all those tasks.

Copier leaders Canon Inc. and Xerox Corp. have jumped to get ahead of this trend. But what of the company that dominates the office printer field? Hewlett-Packard Co. executives admit they've lagged.

"Could we have moved faster? Yes, we probably could've," said Greg Wallace, an HP vice president. "We know we've got to do some things in this multifunction area. We're very aware this market is moving, and we don't have a lot of time to wait."

Sales of single-use laser printers still far outpace sales of what are called multifunction printers, or MFPs. And HP makes three models of MFPs, says Wallace. But that number will rise fast, he says, as will overall sales of MFPs.

"It's (MFP sales) still just a fraction of our overall revenue picture," he said. "But it represents a tremendous opportunity."

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