Hewlett Packard Enterprise Co (NYSE:HPE) Aruba Sets A Double-Digit Growth Target In India This Year

The wireless networking major owned by Hewlett Packard Enterprise Co (NYSE:HPE), Aruba, has set a double-digit growth target in India this year. Last year Aruba saw a growth rate of 67% with India becoming one of the fastest-growing of its markets. Purchased by HPE three years ago at a price of $3 billion, Aruba has emerged as a leading provider of network access solutions.

“Mobility is one factor that is on the rise in India, with more and more devices being connected. Aruba is targeting double-digit growth in the country in 2018. We are seeing more and more customers using our wireless networks …” Aruba’s vice president for the Asia Pacific region, Steve Wood, said in an interview.

SME potential

In the world’s second-most populous country Aruba recently won a contract to offer wireless networking solutions to a bank in India that possesses over 5,000 branches. While revenues from the government consisted of 48% of Aruba’s total sales, the fastest-growing segment of the market is current small and medium-sized enterprises with about 30 new customers signing up for the company’s services every quarter.

The new growth targets of Aruba come in the wake of the board of directors of HPE declaring a dividend of $0.075 a share, the second in the company’s 2018 fiscal year. It also coincides with the announcement that the departing chief executive officer of Hewlett Packard Enterprises, Meg Whitman, will take up the position of CEO at mobile media company NewTV once her tenure at HPE ends on February 1, 2018.

Short-form premium content

NewTV is venture that has the backing of Jeffrey Katzenberg, the co-founder of DreamWorks, and it aims to transform entertainment using short-form premium content that is customized for mobile devices. According to Whitman part of the reason why she agreed to take up the CEO position at NewTV is because she was yearning to return to her start-up roots.

In 1998 Whitman was appointed the chief executive officer of eBay Inc (NASDAQ:EBAY) when the firm had 30 employees and $4 million in revenues. She turned it into an 18,000-employee company with revenues exceeding $8 billion.

On Thursday shares of Hewlett Packard Enterprise fell by 1.20% to close the day at $16.48 per share.

Cook Laurie

Cook Laurie

Laurie, a long-time member of the US Markets Daily general assignment reporter who has covered a variety of subjects from breaking news to investigative features, from stock markets to politics, and from neighborhood small business to global warming.