November 21, 2000 10:15 AM PST

HP Asian revenue up 40 percent

SINGAPORE--Hewlett-Packard Asia Pacific reported 40 percent revenue growth in its fiscal year ending Oct. 31.

Net revenue for Asia Pacific stood at $7.1 billion, accounting for about 15 percent of the No. 2 computer maker's worldwide business. HP earlier reported total revenue from continuing operations of $48.8 billion for 2000. This compares with last year's net revenue of $5.1 billion, which accounted for about 12 percent of its worldwide business in 1999.

Areas showing high growth rates included Japan, Korea, India, China and Southeast Asia, said Siaou-Sze Lien, HP Asia Pacific vice president and managing director. "In terms of product categories, there was strong growth across the company's entire product portfolio, particularly in home PCs, consulting and UNIX servers," HP noted in a statement.

Looking ahead, the managing director expects HP Asia Pacific to contribute 20 percent to HP's overall revenue in the next two to three years. "Asia Pacific is definitely the fastest growing region for HP," Lien said.

Singapore.CNET.com's Anand Menon reported from Singapore.

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