Being hit by the crisis, the largest supplier of PC’s in the world, Hewlett-Packard (HP), declared a 19 percent drop in profit for the third quarter of 2009. Although it still recorded profits of $1.6 billion, it is far from the $2 billion recorded for the same quarter, last year. Share prices also dropped and now HP shares can be bought for just 67 cents each, far from the price of 80 cents per share, which was recorded last year.

Although HP is suffering losses, the executive does not sound too worried. “I’m pleased with our execution in a tough market climate,” – Mark Hurd, Chairman and CEO of Hewlett-Packard. It looks like the U.S. remained stable and HP registered a very good growth in China. However, these were the only bright spots on the map. Sales in Europe fell by 12 percent.

Asked about when the economy will get better, Mark Hurd said, “I think what we’ve seen so far this year is what we’ll see for the rest of the year. I’m encouraged by the stability we see in the market, but we’re not ready to call it a turn.” Although there is usually a significant increase in sales to Europe in the forth quarter of the year, it looks like this will be “muted” this year, according to sources within HP.