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For HP storage, there's 3PAR and subpar

Despite good results with its 3PAR SAN arrays, Hewlett-Packard (HP)’s storage sales are sinking.

HP’s earnings report Wednesday was filled with poor results, and storage was no exception. HP said its 3PAR sales nearly doubled but the rest of the business stumbled, especially the midrange EVA platform. HP’s overall storage revenue was $955 million in the quarter, down 6% from a year ago and nearly 12% from the previous quarter.

HP acquired 3PAR for $2.35 billion in September 2010 after winning a bidding war against Dell. 3PAR is HP’s flagship storage product, but it will take more than just 3PAR to turn around HP’s storage business.

HP’s 6% drop compares to a 12% revenue increase for the overall storage industry in the fourth quarter of 2012, according to Aaron Rakers, the enterprise hardware analyst for Stifel Nicolaus Equity Research. In a research note published today, Rakers wrote that EMC’s fourth quarter results were up 10% year-over-year (5% without Isilon numbers) and 14% from the previous quarter. NetApp revenue increased 26% year-over-year (4% without Engenio) and Hitachi Data Systems revenue grew 15% year-over-year and 13% sequentially.

Dell last week reported storage revenue of $500 million. That was down 13% from last year, reflecting the loss of EMC storage that Dell used to sell through an OEM deal. Revenue from Dell-owned storage increased 33% from last year and 19% sequentially.

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