A major printer manufacturer has started the liquidation of a subsidiary in Russia
Registered in 2015, the "daughter" sold the brand's equipment in Russia, provided technical support and warranty service. In February 2022, a major printer manufacturer decided to suspend deliveries, and in May — to stop working in the country. By the end of the year, the revenue of the Russian company fell by 64 percent, and its net loss amounted to 1.7 billion rubles. HPI Inc. began to reduce staff and terminate office and transport rental agreements, as well as partnership agreements.
According to a source in the partner company "HPI Inc", due to the withdrawal of the American manufacturer from the market, there were problems for firms that signed contracts with it for printing or servicing office equipment. HP paid all penalties, but customers were left without the ability to print documents — the liquidation of a legal entity may be complicated by lawsuits from former partners of the company.
In early October, the American manufacturer Xerox sold its business in Russia to local top management and completed its withdrawal from the market. The former legal entity of the company in Russia changed its name from Xerox (CIS) to Technoevolab. The firm promised to keep the jobs for employees and maintain long-term relationships with customers and suppliers.