HP is working on a new printer that could revolutionize the printing industry, but it won’t be cheap.
HP said Monday it would print a new HP logo for $499, or about $200 cheaper than the current version, but will require a larger printer, which it’s aiming to begin shipping by the end of this year.
The printer will feature a new flexible, high-speed printing system that is much faster than a conventional inkjet printer.
HP’s new printer, the new HP Signature, will use a different flexible inkjet system that could be much cheaper to produce.
HP is still seeking $2 billion in government funding to help it build the printer.
“HP is committed to building a product that’s the most affordable option for the next generation of printers, and this new HP signature printing system will be the world’s fastest,” said Steve Jurvetson, president of HP’s printer business.
HP Signature Printing will use the new flexible ink system, which could cost about $20 per sheet to print, according to the company.
HP and other inkjet makers have been testing the flexible system for more than a year, and it has proved to be a reliable and affordable option.
HP will also use a new type of printing technology called laser-assisted printing.
“With a laser-accelerated process, HP Signature will be able to print on a much wider variety of materials, with greater speed and accuracy,” Jurvettson said.
HP says the printer will be available in 2016.