Hewlett-Packard will announce a $249 laser printer Friday, its cheapest model to date.
The move is not entirely unexpected. HP Chief Financial Officer Bob Wayman told analysts in June that the company planned cheaper printer products in an effort to gain market share.
The LaserJet 1000 will bring HP into competition with models such as Samsung"s $200 ML-1210, the Lexmark"s $200 E210 and Brother"s $300 HL-1440. Previously, HP"s least expensive model was the LaserJet 1200, costing about $400.
The LaserJet 1000 can print up to 10 pages per minute, has 600 dots per inch resolution, a USB cord and a toner cartridge good for 2,500 pages of printing. It will be available Oct. 1, the company said.