Hewlett Packard's chief executive Lew Platt has issued a statement outlining the risks to its business arising from the Y2K bug.
The statement followed HP's third quarter 10-Q report, filed with the US Securities and Exchange Commmission, which included a detailed report on how the company believes the millennium issue will affect customer buying habits.
It admits that the bug could cause purchase delays or the diversion of funds previously earmarked for new systems, which could adversely affect HP's revenues. However, it could also push customers to buy extra hardware to replace non compliant legacy machines.
"HP is accepting the uncertainties with added resolve to be aggressive in the marketplace," said Platt. "It is impossible to predict what will happen, so HP's approach is to prepare for multiple scenarios."
These range from an increase in new hardware purchases to the possibility of no substantial change in IT spending. Other possibilities are that customers will delay new hardware purchases to focus on upgrading operating systems and converting software; change the mix of products they buy, perhaps focusing more on networks and servers than PCs; or bring forward IT purchases to 1999 in order to fight the bug.
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