This was announced in Singapore on Monday at the HP Asia-Pacific Press Symposium.

Addressing a large media gathering at the conference, HP vice president & general manager (business customer sales organisation) Asia-Pacific, Michael Hoffmann, said of the total investment, $18 million would go into setting up two solutions centers in Tokyo and Singapore, that would provide a one-stop service to HP's customers and partners. He said the company has already identified 20 odd key solution areas which included CRM,e-financial services, VoIP, broadband, billing, Internet data centers, e-procurement, computer integrated manufacturing, sourcing, planning and logistics, etc.

According to Mr Subroto Das, HP marketing manager (network storage solution organisation), Asia-Pacific, the $50 million would be invested in various activities involving localisation of solutions and products, training, certification, value addition, setting up demo centers for customers and partners among others.

Mr Hoffmann said the company has drawn up a three-pronged strategy which included: leveraging HP's leadership (in e-services, information appliances and Internet infrastructure), strengthening the existing network and developing solutions for specific verticals. "Competitive edge can be attained only by bringing together the technology and opportunities," he said.

He said the company would also involve its partners heavily into all its activities. Currently 75 per cent of its partners were involved in services and solutions while 25 per cent played a vital role in the company's business activities. "We will intensify our partner relationship with a view to grow substantially," he said.

The solutions market is expected to touch $45 billion mark by 2003 against the current $23 billion. In the Asia-Pacific, HP was looking at a 20 per cent share in the solutions space.

Mr Hoffmann said HP would launch an India-centric, cost effective and entry level personal computer products in India. The products are expected to be made available in the market at a price of $500 in six months. ``We see a great opportunity in the personal computer market in India considering the fact that we have doubled our PC business in the country last year," He said.

HP is in talks with dealers and suppliers to introduce the cost-effective PC in India. The company has recently introduce a low cost server product in the Chinese market. After India, the PC product would also be launched in China, he said.