MULTIMEDIA UPDATE: HP & Foxconn Announce Joint Venture Agreement Delivering New Class of Servers for Fast-Growing Service Pro...
30 April 2014 - 9:25PM
Marketwired
MULTIMEDIA UPDATE: HP and Foxconn Announce Joint Venture Agreement
Delivering New Class of Servers for Fast-Growing Service Provider
Market
PALO ALTO, CA and TAIPEI, TAIWAN--(Marketwired - Apr 30, 2014) -
HP (NYSE: HPQ) and Foxconn today announced a joint venture
agreement to create a new line of cloud-optimized servers
specifically targeting service providers.
According to IDC, service providers will continue to break new
ground in search of both performance gains and cost reductions as
they expand their cloud architecture implementations. Additionally,
the hosting-as-a-service model will continue to transition away
from traditional models toward cloud-based delivery mechanisms like
infrastructure as a service, spurring hyperscale growth in servers
used for hosting (15 to 20 percent CAGR from 2013 to 2018).(1)
The changing needs of cloud computing require a new approach to
server design that brings together cloud solutions expertise, quick
customer response and volume manufacturing. Creating innovative
servers and solutions has been a cornerstone of the relationship
between Foxconn and HP for several decades and today's announcement
further strengthens the partnership. Foxconn's ability to deliver
superior value throughout the supply chain, together with HP's
industry compute leadership and industry-recognized service and
support, will deliver new world-class computing platforms by
bringing high-density, easy-to-manage, cost-competitive solutions
to market.
The new product line will specifically address compute
requirements of the world's largest service providers by delivering
low total cost of ownership (TCO), scale, and service and support.
The line will complement HP's existing ProLiant server portfolio,
including Moonshot.
"With the relentless demands for compute capabilities,
customers and partners are rapidly moving to a New Style of IT that
requires focused, scalable and high-volume system designs,"
said Meg Whitman, president and chief executive
officer, HP. "This partnership reflects business model innovation
in our server business, where the high-volume design and
manufacturing expertise of Foxconn, combined with the compute and
service leadership of HP, will enable us to deliver a game-changing
offering in infrastructure economics."
"Cloud computing is radically changing the entire supply
chain for the server market as customers place new demands on the
breadth of design capability, value-oriented solutions and
large-scale and global manufacturing capabilities," said Terry Gou,
founder and chairman, Foxconn. "In partnership with HP's server
leadership, we are embracing this new opportunity to change the
industry, capture growth in this emerging market, and deliver
end-to-end value as we expand our global leadership in design and
manufacturing."
Pricing and availability The non-equity joint venture, in the
form of a strategic commercial agreement, will take effect on May
1. Details on pricing and availability will be announced at a later
date.
About Foxconn Founded in 1974, Foxconn Technology Group, under
the leadership of founder and Chairman Terry Gou, offers the most
competitive production manufacturing technology in the World. With
forward-looking vision, Foxconn self-created the 3C OEM service
business model eCMMS, incorporating vertical integration of
mechanical, optical and electronic components, as well as the
advantage of one-stop integrated solution. Foxconn Technology Group
has in recent years gradually transformed in the direction of
technology services, providing customers the most comprehensive
solutions. Aside from maximizing value creation for customers,
Foxconn Technology Group is also dedicated in enhancing the concept
of environmental protection in the manufacturing process and aims
to be the trusted partner for customers as well as the model for
global enterprises.
About HP HP creates new possibilities for technology to have a
meaningful impact on people, businesses, governments and society.
With the broadest technology portfolio spanning printing, personal
systems, software, services and IT infrastructure, HP delivers
solutions for customers' most complex challenges in every region of
the world. More information about HP is available at
http://www.hp.com.
(1) IDC, "Worldwide Server 2014 Top 10 Predictions: A Time of
Transition," February 2014.
This news release contains forward-looking statements that
involve risks, uncertainties and assumptions. If such risks or
uncertainties materialize or such assumptions prove incorrect, the
results of HP and its consolidated subsidiaries could differ
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historical fact are statements that could be deemed forward-looking
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associated with HP's international operations; the development and
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existing products and services to meet customer needs and respond
to emerging technological trends; the execution and performance of
contracts by HP and its suppliers, customers, clients and partners;
the hiring and retention of key employees; integration and other
risks associated with business combination and investment
transactions; the execution, timing and results of restructuring
plans, including estimates and assumptions related to the cost and
the anticipated benefits of implementing those plans; the
resolution of pending investigations, claims and disputes; and
other risks that are described in HP's Annual Report on Form 10-K
for the fiscal year ended October 31, 2013, and that are otherwise
described or updated from time to time in HP's Securities and
Exchange Commission reports. HP assumes no obligation and does not
intend to update these forward-looking statements.
© 2014 Hewlett-Packard Development Company, L.P. The information
contained herein is subject to change without notice. HP shall not
be liable for technical or editorial errors or omissions contained
herein.
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