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Hewlett-Packard liquidates its Latvian subsidiary
BC, Riga, 21.05.2015.
Print version
Print versionThe American IT company Hewlett-Packard (HP) has begun the liquidation process of its Latvian subsidiary, reports LETA, according to Firmas.lv information.
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The company's representatives informed LETA that after reviewing the company's strategy in Latvia, it was decided to hand over the distribution business and service to HP partners, with HP participating in the Latvian market indirectly. The company's products and customer service will be provided as usual.
Last year, HP's Latvian subsidiary turned over EUR 2.04 million, which is 58 percent less than in 2013, when the turnover reached EUR 4.91 million.
Meanwhile, profit reached EUR 164,734, which is five times less than in 2013, when the company earned EUR 1.07 million.
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