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HP unveils $249 laser printer

The move was not unexpected: CFO Bob Wayman told analysts in June that the company planned cheaper printer products in an effort to gain market share.

Hewlett-Packard on Friday announced a $249 laser printer, its cheapest model to date.

The move was not entirely unexpected. HP Chief Financial Officer Bob Wayman told analysts in June that the company planned to offer cheaper printer products in an effort to gain market share.

The LaserJet 1000 brings HP into competition with models such as Samsung's $200 ML-1210, Lexmark's $200 E210 and Brother's $300 HL-1440. Previously, HP's least expensive model was the LaserJet 1200, costing about $400.

It isn't the first time HP has tried to sell inexpensive printers. The company in 1999 introduced its sub-$100 Apollo inkjet printer line. But inkjets typically generate more follow-on sales for consumable items such as ink cartridges and photo-quality paper than do laser printers.

The LaserJet 1000 can print up to 10 pages per minute, has a resolution of 600 dots per inch, a USB cord and a toner cartridge good for 2,500 pages of printing. It will be available Oct. 1, the company said.