Eliminating Samsung as a competitor in the printing business for $1B was a steal. I wouldn't be surprised if in 1-2 years Canon, Epson & Xerox join their printing businesses into a new stand-alone Company. In terms of HP, it's not difficult to foresee that the PC business and the printing one will split in less than 5 years (much sooner probably). It has nothing to do with the Company future, but to please the investors in the short/mid term.
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Yes, like the OP said... Not bad at all for $1B. You gain a revenue stream; get valuable IP; and take a competitor out. Margins are not that attractive, but the volume is still good...
I have to say I am surprised with this move.
Good move though.