Hewlett-Packard Company or HP is a multinational company headquartered in California. Singaporeans are familiar about HP. HP offers software, hardware and services to its consumers. The consumers of HP include small and medium enterprises as well as large companies. Here in Singapore, you will see HP in different sectors like government, health and education.
HP is considered the leader in PC manufacturing despite the presence of its Chinese competitor – Lenovo. The company was founded on January 1, 1939 by Bill Hewlett and Dave Packard in their garage. In 2013, the net income of HP was US $5.113 billion with total assets of US $105.676 billion. It employed 317,500.
As of October 2014, there are some changes. HP announced that it would split into two companies. The company decided to separate its printer and computer businesses. The change cost 5000 people their jobs. This is only part of the bigger turnaround plan. According to the management, the stakeholders will still own a stake in the company’s computer and printer businesses.
This year, the company celebrates its 75th year in the business and it is still going strong. The company is indeed struggling to adapt to the new age but despite that fact, the shares were 4.4 per cent up or $36.78 based on October 6 trading.
Meg Whitman, CEO of HP, said that the newly created companies will only stick to printers and PCs for now. The company is also exploring the 3D market. HP feels good about this but of course, there are many sceptics out there. At the end of the day, HP made the decision to be more agile and focus on the more profitable side.