The figure may be considered a drop in the bucket, when taking into account the multinational’s global sales figure, this year toping a staggering $28.5 billion. However, the European branch is very satisfied with the local performance where it is registering one of the most substantial growth rates in Europe. The information was given during a conference, held at the Portomaso Hilton, on Tuesday and yesterday.

HP depends on the relationship with local partners, Mr Caprara emphasised, adding that these were already very strong and had to be maintained.

In this vein, he said that the company’s relations with the Maltese market have been strengthened with the memorandum of understanding (MOI) signed with the government a few months back. HP is working full swing on the MOI, he said, adding that in a couple of months interesting developments will be announced.

The company is committed to help Malta become a leader in terms of information and communication technology. The local developments can be used as a showcase for other countries and firms, he added.

Asked by The Malta Independent whether the local market was being perceived as a platform to North Africa, Mr Caprara said that the political and infrastructural benefits Malta offers are certainly elements HP is keeping in mind. However, the company is being cautious, especially in view of the embargo that still exists on certain products.

A presentation was given by a group of experts representing the company’s various product segments.

The local market has experienced a huge growth rate over last year. In the small photo-printing segment, for example the growth rate exceeds an amazing 5,000 per cent. In the same sector, however, there was a substantial shrinkage registered in the large format printers. In the main the figures are very positive.

A shift towards notebooks and away from fixed-point desk-tops was also recorded over the past year. In general, the company’s mobility line is doing exceptionally well. PDA sets have gone from sales of 10 a month three years ago to 100-120 units per month this year. In the imaging and printing segment alone the company has launched 100 new products, maintaining last year’s rhythm.