HP Inc.

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.

HP Inc. was founded in 2015 as a spin-off of the original Hewlett-Packard Company after the company's enterprise product and business services divisions were split into a new publicly traded company, Hewlett Packard Enterprise. HP Inc. retained the personal computer and printer services divisions from its predecessor, serving as the legal successor of the original company that was originally 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.

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.

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.

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 CPU water cooling and Nvidia's GTX 1080 graphics, and promoted as VR-ready), and other accessories (such as monitors) designed to cater to the market. Between May and August of that year, certain assets were sold to OpenText, including TeamSite and Exstream.

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 for $425 million. 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.

In March 2022, HP announced the acquisition of the California-headquartered communications software and hardware provider Poly Inc. in an all-cash transaction. HP said the cash amount agreed was $40 per share, which implied a total enterprise value of $3.3bn, inclusive Poly's net debts.

In May 2024, HP announced its intentions on restructuring their lineup of consumer PCs in preparation for the next generation of computers with artificial intelligence, stating that most of its PC models (except Omen) would adopt a new branding nomenclature under the new Omni brand, which consisted of the OmniBook (a revival of an old brand that was defunct in 2002 after acquiring Compaq that year), OmniStudio and OmniDesk models. The new Omni brand of computers featured AI-powered hardware and software, and currently coexists with HP's other existing, non-AI products , some of which are still being offered to this day.

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, citing that "the current global health crisis and resulting macroeconomic and market turmoil" had "created an environment that is not conducive to Xerox continuing to pursue an acquisition of HP Inc."

Products and operations

HP develops personal computers (PCs), printers and related supplies, as well as 3D printing services. Its consumer PCs include the Essential line and Pavilion (consumer), Envy and Spectre (high-end and prosumer), and Omen ( gaming), as well as AI-powered consumer 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. It also manufactures the DeskJet, OfficeJet, LaserJet, and Envy series of printers. In the professional space, HP market the HP Z series of desktop workstations and its mobile equivalent, HP ZBook.

Corporate affairs

In fiscal year 2023, total revenue of 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.

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. 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. Free cash flow includes $121 million in net cash from operating activities, with adjustments of $62 million for net lease investments and $158 million for property, plant, and equipment investments.

The key trends for HP Inc. are (as of the financial year ending October 31):

Sports sponsorships

Formula 1

HP has had a long history with Formula 1 sponsorship beginning in 1988 with a single season sponsorship with Larrousse Throughout the 1990s and 2000s, HP served as a minor sponsor and technology supplier for many teams, including Forti (1996), Jordan (1996-2002), Benetton (1997-1999), Minardi (1997), Stewart (1998-1999), Jaguar (2000-2003) and Renault (2010).

From 2002 to 2005, HP served as title sponsor of Williams Racing (then known as BMW WilliamsF1 at the time) after acquiring Compaq in 2002; Compaq previously served as title sponsor of the team from 2000 to 2001. HP lost the sponsorship deal with Williams Racing in 2005.

In April 2024, HP announced that they have signed a multi-year deal to become the title sponsor for Ferrari team, extending to the team's F1 Academy and esports programs.

Association Football

HP has been the shirt sponsor for the English Premier League football club Tottenham Hotspur from 1995 to 1999, preceding and succeeding the German lager Holsten. Enterprise software company Autonomy became Tottenham's shirt sponsor beginning in the 2010-11 season for domestic matches, but were acquired by HP in 2011. HP continued with the deal, changing the sponsorship in 2011-12 season to feature Autonomy's augmented reality platform Aurasma, before replacing the previous Autonomy branding with HP branding for the final year of the sponsorship in the 2013-2014 season.

In February 2024, HP signed a 3-year sleeve sponsorship deal with Real Madrid, being the first sleeve sponsor of the club's 121-year history.

Carbon footprint

HP reported total CO₂e emissions for the twelve months ending October 31, 2023, at 19,764,400 tonnes CO₂-equivalent and plans to reduce emissions 60% by 2025 from a 2015 base year.
According to a press release issued on April 20, 2021, HP seeks to achieve net zero greenhouse gas emissions by 2040.

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) and paid millions in class-action lawsuits, such as to certain customers in the US ($1.5 million), Canada ($700,000 CAD), Australia, and Europe ($1.350 million), 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."

In 2023, '' PC World'' reported that HP printers still prevent users from using third-party ink.

Disabling all-in-one printers

In 2023, HP was sued over allegations that it intentionally designed its all-in-one printers not to perform scanning or faxing when they were low on ink.

Disabling ink cartridges

In February 2019, How-To Geek published an article reporting that HP remotely disabled ink cartridges when the user cancels their Instant Ink subscription.

Xinjiang region

In 2020, the Australian Strategic Policy Institute accused at least 82 major brands, including HP Inc, of being potentially connected to forced Uyghur labor in the Chinese Xinjiang province.

In 2022, in response to the U.S. Uyghur Forced Labor Prevention Act, HP responded, "HP is committed to respecting human rights across our global supply chain and we prohibit the use of involuntary labor of any kind. HP also commits to respecting fundamental rights and freedoms defined in the United Nations (UN) Universal Declaration of Human Rights (UDHR) in an approach consistent with the UN Guiding Principles on Business and Human Rights (UNGPs) as outlined in our Human Rights Policy."

Israeli conflicts

In 2023, HP as well as Hewlett Packard Enterprise (HPE) has come under criticism for Hewlett-Packard Israel's products under provided to the Israeli Police, Israeli Prison Service, and Israeli Population and Immigration Authority. The BDS movement has called for consumers and organizations to boycott all HPE IT services and products as well as printers, computers, and printer cartridges from HP Inc.

Obsolescence practices

In 2024, A French association called Halte à l'Obsolescence Programmée (HOP) filed a complaint against the printer manufacturer HP, accusing it of planned obsolescence practices. The complaint alleges that HP artificially blocks printers when it detects a cartridge as empty, even if there is ink remaining. HOP argued these practices force consumers to purchase new cartridges unnecessarily, contributing to waste and environmental harm.

Buggy drivers

In February 2025, HP started pushing out buggy BIOS through Windows Update, which affected some models of ProBooks and EliteBooks. HP replied that they are investigating problems.

Logo history

Hewlett-Packard era (1954–2015)

File:HP-original-logo-1954-trademark.svg, alt=An outlined circle with the italic letters "hp" on it, 1954–1964
File:Hewlett-Packard logo 1964.svg, 1964–1981
File:Hewlett-Packard logo 1979 blue.svg, alt=A dark blue rounded rectangle with a hollow circle, the stylized italic letters "hp" on it and the black words "HEWLETT PACKARD", 1979–2008
File:HP logo 1979.svg, alt=A dark blue rounded rectangle with a hollow circle and the stylized italic letters "hp" on it, 1999–2012
File:HP LOGO.png, alt=A stylized glossy blue circle with the stylized italic letters "hp" on it, 2000–2008
File:HP logo 2008.svg, alt=A dark blue circle with the stylized italic letters "hp" on it, 2008–2014
File:HP logo 2012.svg, alt=A light blue circle with the stylized italic letters "hp" on it, 2012–2015

HP Inc. era (2015–present)

Image:HP logo 2012.svg, 2015–2025, alt=A light blue circle with the stylized italic letters "hp" on it
Image:HP logo 2025.svg, 2025–present, alt=A deep blue circle with the stylized italic letters "hp" on it
Image:Hp alt 2016.svg, 2016–present (alternative logo used on some computers), alt=Four black strokes representing the letters "hp"

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

References

External links

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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
Computer hardware companies
Computer systems companies
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