HP To Increase R&D Expenditure, Says Apotheker

Hewlett-Packard's new chief executive office Leo Apotheker has said that his company will spend more on research and development in order to make its products more compelling to customers.

According to Business Week, Apotheker, who was previously the CEO of SAP, made the announcement during a conference call after the company announced its first quarter results.

HP will also be using its consumer technology to boost its business product line, aiming to give itself a competitive advantage over its rivals.

The CEO, who spent his first week at HP avoiding a subpoena filed by Oracle, said that HP will also raise its expenditure for marketing and selling its computer products. The spendings in R&D and sales will be managed by cutting down on some operational costs, he said.

Apotheker also said that the company will continue to make strategic acquisitions to boost its product portfolio.

HP had recently acquired enterprise storage technology maker 3PAR following a intense bidding war with rival Dell.