Hewlett Packard liquidates subsidiary HP Inc. and completely exits the Russian market, spending $23 million to leave

Hewlett Packard will liquidate its subsidiary HP Inc. in Russia within a year. This is reported by the Russian media, referring to the unified state register of legal entities.

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The process of liquidation of HP Inc. has already been launched. The extract from the state register indicates the term of liquidation of the limited liability company - 23 November 2024.

Leaving the Russian market will cost Hewlett Packard company in $23 million. This amount, among other things, includes the cost of cancellation of existing agreements and write-off of existing equipment on the balance sheet.

Hewlett Packard announced last August that it would cease operations in the Russian Federation. This was in response to the war in Ukraine. HP Inc. had been operating in Russia for less than 10 years. The official registration of the subsidiary is dated 2015.