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HP, Apple to ink printer deal

Hewlett-Packard and Apple will soon sign a deal to develop ink jet printers.

Hewlett-Packard (HWP) and Apple (AAPL) will soon sign a deal to develop ink jet printers.

The printers would be made by HP and resold under the Apple name. Currently, Apple's ink jet printers are supplied by Canon.

"We expect discussions to yield products within a year, but no formal agreement has been signed," said Maury Austin, the general manager of Apple's imaging division said.

Austin hinted that the deal could eventually produce more than just new printers, though. "Basically our product directions are complementary. Their vision of where the printer, scanner, and camera markets are going is complementary to our vision," Austin said.

"They would be a wonderful partner to have. They offer a broader range of products at more price points, and we expect to develop more technologies in the future," he commented.