HP Inc (NYSE:HPQ) has joined the list of tech firms that are venturing into virtual reality courtesy of its Omen X VR that it recently showcased. The company’s CEO Dion Weisler also highlighted the strategic route that the firm will adopt this year.
The VR industry is one of the fastest growing and most competitive industries with numerous players already selling their appealing models. HP might be a bit late but it is never too late to bring something new onto the table. In this case, HP’s products are VR backpacks that are still in development. Sources who got a chance to get hands-on with the device stated that it is some kind of portable PC that does not include any type of peripherals.
At the time of the showcase, the Omen X VR was connected to a HTC Vive. The backpack contains two removable batteries that make it a convenient portable VR device. The company’s input is an interesting approach that promises to tackle some of the problems that most VR firms face. HP claims that the Omen X is still in development and the final product is about six months away from launch.
As for HP’s performance, the CEO revealed the company’s aim to introduce a transformative business strategy this year and it will feature execution across three elements. Weisler highlighted the highly variable cost structure which he believes is a highly efficient operating model. He stated that it has been a strong strategy for the company as far as moving through cycles is concerned. The CEO compared the performance of the PC and printer business particularly their profit margins.
Weisler noted that investors are looking for strong cash flow and strong liquidity. The CEO stated that the investors’ main focus is the operating cash flow. They want to know whether every quarter in a mature market can bring in a lot of cash. The company’s segments have been experiencing declining performance especially the PC business due to a slowdown in the market.