Late News.(various news items)

Advertising Age, May, 2001

HP decreases its ad spending by about 20

[palo alto, calif.] Hewlett-Packard Co. has pared ad spending by some 20%, according to an executive familiar with the matter. HP last week reported second-quarter revenue fell 4% from last year to $11.6 billion. At the start of HP's fiscal year in November, HP expected a modest rise in its $200 million global brand budget. Slowing growth in the tech sector and the economy forced a re-evaluation, the executive said. HP did not return calls by press time. Omnicom Group's Goodby, Silverstein & Partners, San Francisco, handles HP's global brand advertising; Publicis Groupe's Publicis & Hal Riney, San Francisco, coordinates ads for HP's business printers and other enterprise products.

I-shop Digitas explores...

Read the rest of this article with a Free Trial at HighBeam Research.

Premium Content Partnership | HighBeam Research provides an in-depth online archive library of reference works.