|HP's Snapfish Resets the Online Photography Landscape: Digital Prints Now as Low as 10 Cents Each; Snapfish Welcomes Vacationers into Summer with Prints for Pennies|
PALO ALTO, Calif.--(BUSINESS WIRE)--May 26, 2005--HP (NYSE:HPQ) (Nasdaq:HPQ) today significantly reduced the pricing on its Snapfish online photo service by offering 4 x 6-inch prints for as low as 10 cents each. Snapfish prints are now priced up to 60 percent lower than those of its major online competitors.
Consumers can now go to www.snapfish.com to order 4 x 6-inch digital camera and camera phone prints for as low as 10 cents with a pre-paid plan and 12 cents with Snapfish's everyday low pricing -- a 7 cent reduction from Snapfish's previous industry-leading price.
As always, consumers will receive professionally developed, high-quality prints along with Snapfish's 110 percent satisfaction guarantee.
"Every company pledges 'value' to its customers, but only a select few of the best companies consistently deliver on the promise," said Ben Nelson, vice president and general manager, Snapfish, HP. "Since our founding in 1999, 'best value' has been our promise to Snapfish users and, with today's news, Snapfish isn't just the best place to share, store and print precious memories online, it is truly the best value in photography."
With this move, Snapfish, a division of HP, achieves yet another industry milestone -- making digital printing online definitively less expensive than using film, which, on average, costs $6.44 per roll, or about 25 cents per print.
"We believe this move will spark further growth in the overall digital photography market," said Larry Lesley, senior vice president, Consumer Imaging and Printing, HP. "A true complement to our home photo printing offering, today's announcement encourages consumers to engage more deeply in the digital photography experience, driving further sharing and printing of photos whether online, in the home or at retail."
Snapfish also dropped the prices of its other popular print sizes and packages by up to 45 percent, including:
| ||Previously ||Now |
|5 x 7-inches ||59 - 95 cents ||29 - 79 cents |
|8 x 10-inches ||$3.79 ||$2.99 |
|Wallet size ||$1.79 ||$0.99 |
HP's ability to make this move stems from Snapfish's growth. Snapfish currently welcomes more than 500,000 new users per month, generating significant increases in volume -- in terms of both prints and photo merchandise, such as calendars, diaper bags and more than 80 unique photo products. This increase in volume has enabled Snapfish to scale its operation, increase efficiencies and achieve significant cost savings, which it is now able to pass on to customers.
Additional information is available at www.snapfish.com.
HP is a technology solutions provider to consumers, businesses and institutions globally. The company's offerings span IT infrastructure, global services, business and home computing, and imaging and printing. For the four fiscal quarters ended April 30, 2005, HP revenue totaled $83.3 billion. More information about HP is available at www.hp.com.
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