But they are still not expected to equal their 2011 peak until 2018 at the earliest. Global shipments of PCs are in for “slow but consistent” growth over the next few years, forecasts tech research firm Gartner, as they recover from three years of declines caused by a surge of tablets and smartphones. At the same time, though, it may raise operating costs over the longer term, and together with abortive talks to merge with EMC Corp EMC.N, it could reflect HP's inability to grow profits organically, according to Bernstein's Toni Sacconaghi. The split does creates a company with strong cash flows, a high dividend yield and a major market position. “There’s not a whole lot they can do to improve that growth profile.” “HP Inc will be a fairly good cash-generating machine but growth will certainly be a struggle,” said Brian Fox, a portfolio manager at Standard Life Investments. Yet some questioned the move, expressing doubt over whether the newly christened “HP Inc” can break out of what appears to be a terminal slump in desktop computing. Investors and analysts generally gave a thumbs up on the move to separate HP’s computer and printing business from its corporate hardware and services operations, sending its shares up almost 5 percent.

SEATTLE/SAN FRANCISCO (Reuters) - Hewlett-Packard Co's HPQ.N Chief Executive Officer Meg Whitman appeared to be banking on growth markets like 3D printing and a trickle back in PC sales when she announced on Monday a spin-off for the company's computer and printing business.

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