H-P reportedly working on copier OEM deal with Sharp

|By:, SA News Editor

Reuters and Bloomberg both report H-P (HPQ +0.3%) and Sharp (SHCAY) may strike an OEM deal through which the latter will make copiers under the former's brand. Reuters adds deliveries to H-P could begin in Sharp's FY14 (ends March '14).

H-P's enormous commercial printing market reach could allow it to resell large volumes of Sharp copiers. That, in turn, could be a negative for copying giant Xerox (XRX -1.2%), which is off moderately in early trading.

The reports come ahead of H-P's Nov. 26 FQ4 report, and at a time when the IT giant's printing sales have been pressured by the growing popularity of digital document/photo-sharing. H-P's printing revenue fell 4% Y/Y in FQ3.

Sharp shares rose 7.6% in Tokyo.