HP Inc. is an American multinational information technology company with its headquarters in Palo Alto, California, that develops personal computers (PCs), printers and related supplies, as well as 3D printing services. It is the world's second-largest personal computer vendor by unit sales after Lenovo and ahead of Dell as of 2024.[2]
HP Inc. was founded in 2015 when the original Hewlett-Packard Company split into two companies. The old company's enterprise product and business services divisions were spun off into a new publicly traded company, Hewlett Packard Enterprise,[3][4] while Hewlett-Packard itself was renamed as HP Inc. and retained the personal computer and printer services divisions of its predecessor, serving as the legal successor of the original company that was founded in 1939. HP is listed on the New York Stock Exchange and is a constituent of the S&P 500 Index. In the 2023 Fortune 500 list, HP is ranked 63rd-largest United States corporation by total revenue.[5]
History
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.
In March 2015, HP announced that Bang & Olufsen would become the company's new premium audio partner for its computers and other devices. This replaced the partnership with Beats Electronics that ended upon being acquired by Apple Inc. in 2014.[6]
On November 1, 2015, Hewlett-Packard was split into two companies. Its personal computer and printer businesses became HP Inc., while its enterprise business became 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.
Products and operations
HP develops personal computers (PCs; both consumer and business laptops and desktops), printers, scanners, monitors, accessories, workstations, servers, and related software and services such as 3D printing.[4]
Its consumer PCs include the Essential line and Pavilion (consumer), Envy (high-end and prosumer), and Omen (gaming), as well as AI-powered PCs marketed under the Omni brand such as the OmniBook, OmniDesk and OmniStudio. HP's business computers are marketed under the "Pro" and "Elite" prefixes. In the professional space, HP market the HP Z series of desktop workstations and its mobile equivalent, HP ZBook.
It also manufactures the DeskJet, OfficeJet, LaserJet, and Envy
Corporate affairs
In fiscal year 2023, total revenue of US$54 billion included US$24.7 billion from the sale of notebook computers, US$10.9 billion from the sale of desktop computers, US$11.4 billion from the sale of printer supplies, US$4.2 billion from the sale of commercial printers, and US$2.4 billion from the sale of consumer printers. Over 65 percent of revenue in 2022 came from customers outside of the United States.[29]
HP's first quarter fiscal 2024 net revenue was $13.2 billion, representing a 4.4% decrease (4.9% in constant currency) year-over-year.[30][31] HP's strong operating activities in the first quarter of fiscal 2024 generated $121 million in net cash. The company also reported a positive free cash flow of $25 million for the quarter.[32][33][34]
Controversies
Blocking third-party ink cartridges
In 2016, HP introduced firmware in its printers that disabled the printers if users used ink or toner cartridges which did not contain “new or reused HP chips or electronic circuitry.” As a result, HP faced scathing criticism (such as that from the Electronic Frontier Foundation[58]) and paid millions in class-action lawsuits, such as to certain customers in the US ($1.5 million[59]), Canada ($700,000 CAD[60]), Australia, and Europe ($1.350 million[61]), but without admitting wrongdoing. HP's stated that the firmware was intended to provide "the best consumer experience" and "protect" customers from "counterfeit and third-party ink cartridges that do not contain an original HP security chip and that infringe on our IP."[62]
Logo history
Hewlett-Packard era (1939–2015)
HP Inc. era (2015–present)
See also
- Hewlett Packard Enterprise – the demerged sibling company that offers servers, storage, networking and communications.
- HP Labs
- List of largest technology companies by revenue
External links
References
- HP Inc. FY 2025 Annual Report (Form 10-K) U.S. Securities and Exchange Commission, December 10, 2025^
- Gartner Says Worldwide PC Shipments Increased 0.3% in Fourth Quarter of 2023 but Declined 14.8% for the Year Gartner, January 11, 2024, retrieved January 11, 2024^
- Supantha Mukherjee, Edwin Chan.