HP has announced plans to expand into the cloud computing market.
Hewlett Packard (HP) has announced plans to expand into the cloud computing market.
The computer giant intends to provide its customers with online services as well as launch a new application store.
The expansion strategy is expected to help boost the company's earnings and dividends. In its financial report for the final quarter of 2010, HP reported a decline in sales.
Chief executive Leo Apotheker said the firm is also planning to launch its new 9.7in tablet computer, the HP TouchPad, in June this year.
The device is powered by a dual-core 1.2GHz Snapdragon CPU and includes webOS 3.0. It is likely to help the firm tap into the increasingly popular tablet market.
Mr Apotheker said the new growth plan mainly concentrates on connectivity and software.
He added: "The world is connected, people to people. People want information where and when they need it. We intend to be the platform for the cloud and connectivity."
Copyright Press Association 2011