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HP CEO Enrique Lores On PC Shortages, Hybrid Work Opportunities And ‘Actively Looking’ For Acquisitions

In a wide-ranging interview with CRN, Lores also discussed Windows 11, the plans for remote computing acquisition Teradici, Apple’s push for business customers and bringing Instant Ink to SMBs with the help of partners.

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Lores On The Record

As demand for PCs continues to surge during a time of industry-wide component shortages, HP Inc. is grappling with a massive backlog on PC orders. In an interview with CRN on Friday, HP CEO Enrique Lores detailed how the company is dealing with its roughly $10 billion PC backlog and the outlook for the situation improving for partners.

At the end of HP’s current quarter in late October, “we expect to be—fortunately and unfortunately—at a similar level” in terms of backlog, Lores said. Through measures focused on securing key components, “you will see a gradual improvement over the next quarters,” he said during the interview at HP’s headquarters in Palo Alto, Calif.

The wide-ranging interview also included a discussion of HP’s planned acquisition of remote computing firm Teradici, the Windows 11 rollout, Apple’s push for business customers and HP’s strategy around processors. Held ahead of the virtual HP Reinvent partner conference on Thursday, other topics covered by Lores included expanding HP’s Instant Ink subscription service to SMBs, the company’s 3-D printing business, the shift to hybrid work and the next phases for HP’s print and personal systems businesses.

Additionally, Lores offered his view on where HP might be looking next for acquisitions—pointing to several “areas where we are actively looking for the right opportunity.” The past four years have seen HP make acquisitions in print (Samsung’s printer business and managed print services provider Apogee); security (Bromium); gaming peripherals (HyperX); and virtual computing (the Teradici acquisition is expected to close during the fourth quarter).

Additional acquisitions “are clearly a part of our plan,” Lores said. “We have demonstrated that during the last quarters. And we will continue to do that in the future.”

What follows is an edited portion of CRN’s interview with Lores.

Jennifer Zarate contributed to this article.

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