HP Inc.
HP Inc. is an American multinational information technology company headquartered in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing solutions.

It was formed on November 1, 2015, renamed from the personal computer and printer divisions of the original Hewlett-Packard Company, with that company's enterprise product and business services divisions becoming Hewlett Packard Enterprise. The split was structured so that Hewlett-Packard changed its name to HP Inc. and spun off Hewlett Packard Enterprise as a new publicly traded company. HP Inc. retains Hewlett-Packard's pre-2015 stock price history and its former stock ticker symbol, HPQ, while Hewlett Packard Enterprise trades under its own symbol, HPE.

HP is listed on the New York Stock Exchange and is a constituent of the S&P 500 Index. It is the world's 2nd largest personal computer vendor by unit sales as of January 2021, after Lenovo. In the 2018 Fortune 500 list, HP is ranked 58th largest United States corporation by total revenue.

History 

HP Inc. was formerly known as Hewlett-Packard. Hewlett-Packard was founded in 1939 by Bill Hewlett and David Packard, who both graduated with degrees in electrical engineering from Stanford University in 1935. The company started off in the HP Garage in Palo Alto, California. On November 1, 2015, Hewlett-Packard was renamed to HP Inc. and the company enterprise business were spun off and renamed to Hewlett Packard Enterprise.

As HP Inc. 

In May 2016, HP introduced a new PC gaming sub-brand known as Omen (reusing trademarks associated with VoodooPC), including gaming laptops and desktops (with the latter offering options such as water cooling and Nvidia GTX 1080 graphics, and promoted as VR-ready), and other accessories (such as monitors) designed to cater to the market.

In November 2017, HP acquired Samsung Electronics' printer division for $1.05 billion.

In February 2021, HP announced its acquisition of Kingston's gaming division HyperX. The deal only includes computer peripherals branded as HyperX, not memory or storage.
The sale was completed in June 2021.

In February 2022, HP announced it had acquired the Edinburgh-based packaging development company, Choose Packaging, in an effort to strengthen its capabilities in the sustainable packaging vertical.

Attempted merger with Xerox 

On November 5, 2019, The Wall Street Journal reported that print and digital document company Xerox was contemplating acquiring HP. The company unanimously rejected two unsolicited offers, including a cash-and-stock offer at $22 per-share. HP stated that there was "uncertainty regarding Xerox’s ability to raise the cash portion of the proposed consideration" (especially given that Xerox is a smaller company in terms of market cap than HP), and noted the company's aggressiveness. On November 26, 2019, Xerox issued a public letter defending allegations by HP that its offer was "uncertain" and "highly conditional", and declared its intent to "engage directly with HP shareholders to solicit their support in urging the HP Board to do the right thing and pursue this compelling opportunity."

Xerox stated in January 2020 that it would propose the replacement of HP's board of directors during its next shareholder meeting in April 2020. In a statement to TechCrunch, HP disclosed a belief that Xerox's bid was being "driven by" activist shareholder Carl Icahn. Xerox raised its bid to $24 per-share in February 2020.

On February 21, 2020, HP instituted a shareholder rights plan to fend off Xerox's pursuit of a hostile takeover. Four days later, HP announced that, if shareholders rejected the Xerox purchase, it planned on offering $16 billion in capital return between fiscal 2020 and 2022, including $8 billion in additional share buybacks and raising its "target long-term return of capital to 100% of free cash flow generation". HP criticized Xerox's bid as a "flawed value exchange" based on "overstated synergies". On March 5, 2020, HP rejected an offer at $24 per-share.

On March 31, 2020, Xerox rescinded its bid to buy HP Inc, issuing in a statement, "The current global health crisis and resulting macroeconomic and market turmoil caused by COVID-19 have created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc."

Current operations 

HP develops personal computers (PCs), printers and related supplies, as well as 3D Printing solutions.

In 2021, total revenue of US$63.5 billion included US$30.5 billion from the sale of notebook computers, US$9.53 billion from the sale of desktop computers, US$12.7 billion from the sale of printer supplies, US$4.45 billion from the sale of commercial printers, and US$3.18 billion from the sale of consumer printers.

Approximately 65% of revenue in 2021 came from outside of the United States.

HP is organized into several groups, as outlined below.

Desktops and laptops 

Business desktops:

 ProDesk: Affordable business desktops
 EliteDesk: High end business desktops
 Z workstation: Premium professional workstations

Business laptops:

 ProBook: Affordable business laptops
 EliteBook: High end business laptops
 ZBook: Premium professional workstation laptops
 Elite: business ultrabooks, tablets and detachable laptops.

Consumer laptops and desktops:

 Stream: Low-end personal laptops
 Pavilion: Mid-range personal computers introduced in 1995. The name is applied to both desktops and laptops for the Home and Home Office product range
 Envy: High-end consumer laptops and other products
 Spectre: Premium consumer computers
 Victus: Mid-range gaming computers.
 Omen: High end gaming computers
 All-in-One: HP's all-in-one computers

Chromebooks:

 Chromebook: Laptops running Linux-based Chrome OS

Monitors 

 Omen: High-end gaming monitor
 X series: Mid-range gaming monitor
 Z series: Workstation monitor

Peripheral 

 HyperX

Audio partner 

In March 2015, HP announced that Bang & Olufsen would become the company's new premium audio partner for its computers and other devices. The partnership replaced the one with Beats Electronics which ended upon its acquisition by Apple Inc.

Printers 

 DeskJet and OfficeJet inkjet printers
 LaserJet laser printers
 PageWide wide-format inkjet printers, sheet-fed and web-fed
 DesignJet plotters and wide-format printers
 Indigo digital presses, sheet-fed and web-fed
 Scitex and Latex large-format printers
 HP Sprocket mobile photo printers

HP Business Solutions 

HP Business Solutions are HP's products and services that are oriented towards businesses. These include:

 HP JetAdvantage solutions manages businesses fleets of printers, scanners and MFPs. HP JetAdvantage also has the HP Universal Print Driver, which is a single driver that works with a large variety of HPs printers.
 HP Services is the brand used to HPs business services.
 Managed Print Services (MPS)

Carbon footprint 

HP reported Total CO2e emissions (Direct + Indirect) for the twelve months ending 31 December 2020 at 254 Kt (−34 /-11.8% y-o-y) and plans to reduce emissions 60% by 2025 from a 2015 base year. This science-based target is aligned with Paris Agreement to limit global warming to 1.5°C above pre-industrial levels.

See also 

 HP Labs
 List of the largest information technology companies

References

External links 

 

2015 establishments in California
American brands
American companies established in 2015
Companies based in Palo Alto, California
Companies listed on the New York Stock Exchange
Computer companies of the United States
Consumer electronics brands
Display technology companies
Manufacturing companies based in the San Francisco Bay Area
Multinational companies headquartered in the United States
Netbook manufacturers
Manufacturing companies established in 2015
Computer companies established in 2015
Corporate spin-offs
Software companies based in California
Software companies of the United States
Technology companies based in the San Francisco Bay Area
Technology companies established in 2015
Technology companies of the United States