In a program on CNBC, Pat O’Malley, CFO of Seagate Tech talked about future of PC market. He said that PC market asks for massive investment and portfolio. Companies like Hewlett-Packard Company (NYSE:HPQ), Intel Corporation (NASDAQ:INTC) and Lenovo have been investing a lot to sustain their business. Intel Corporation (NASDAQ:INTC), Hewlett-Packard Company (NYSE:HPQ), and Lenovo are offering multiple devices and features in their PC. There was a time when tablets and mobile were overtaking the market and experts were predicting the death of PC market. But Hewlett-Packard Company (NYSE:HPQ) and Intel are performing excellent in the industry. Tablets are now going dowm in terms of sales and popularity. People don’t see them as a device for value. Business users prefer laptops and PCs. Millennials are more tilted towards Phablets and phone. The phablet industry has practically cannibalized the tablet industry.
Hewlett-Packard Company (NYSE:HPQ) and Intel Corporation (NASDAQ:INTC) are heavily investing on making PCs a lot more interesting, compelling and productive. Malley said that the innovation cycle, which was coming to a halt in the PC market is now back in business. He rejected the notion that PC market will end soon. He hinted between the lines that PC market is here to stay and it the mobile industry that needs revamp.
Malley said that as long as Hewlett-Packard Company (NYSE:HPQ), Intel Corporation (NASDAQ:INTC) and Lenovo continues to invest in innovation, features, touch screen and user experience, PC market will grow. He said that he is very bullish on PC market and thinks that there is a huge potential of growth in it.