HP Inc.

HP Inc.
	File:HP logo 2012.svg Logo since 2012
Company type	Public
Industry	Technology
Predecessor	Hewlett-Packard (personal computer and printer divisions)
Founded	November 1, 2015; 11 years ago (spin-off) (original company founded 1939)
Headquarters	Palo Alto, California, United States
Area served	Worldwide
Key people	[Not specified in text]
Products	Personal computers, printers, scanners, monitors, peripherals, workstations, servers, software, 3D printing solutions
Number of employees	58,000 (2024)
Website	www.hp.com

HP Inc. is a multinational technology corporation based in Palo Alto, California, USA, with a core focus on personal computers (PCs), printers, and associated consumables, including offerings in 3D printing. As of 2024, it holds the position of the world's second-largest PC manufacturer by unit sales, trailing only Lenovo and surpassing Dell.

Established in 2015 as a spin-off from the original Hewlett-Packard entity, HP Inc. inherited the divisions responsible for personal computers and printers, while the enterprise hardware and business services segments were spun off to create Hewlett Packard Enterprise. HP Inc. serves as the legal continuation of the company originally founded in 1939. The firm is publicly listed on the New York Stock Exchange under the symbol HPQ and is included in the S&P 500 Index. In the 2023 Fortune 500 rankings, it was positioned as the 63rd-largest U.S. company by revenue.

During Hewlett-Packard Era

The origins of Hewlett-Packard date back to 1939 when Bill Hewlett and David Packard, both alumni of Stanford University's electrical engineering program, established the company. Its first operations took place in the famed HP Garage located in Palo Alto, California.

In March 2015, HP transitioned its premium audio partnership for its computing devices from Beats Electronics—which had been acquired by Apple Inc. in 2014—to Bang & Olufsen, marking a strategic shift in its audio branding.

On November 1, 2015, Hewlett-Packard underwent a corporate split resulting in two independent entities: HP Inc., which concentrated on PCs and printing solutions, and Hewlett Packard Enterprise, which focused on enterprise technology and services. HP Inc. retained the original stock ticker HPQ along with historical stock data prior to 2015, whereas Hewlett Packard Enterprise began trading under the HPE ticker.

As HP Inc.

In May 2016, HP introduced its gaming sub-brand Omen, resurrecting trademarks from VoodooPC. This product line comprised gaming desktops and laptops equipped with features such as CPU water cooling systems and Nvidia GTX 1080 graphics cards, designed to support virtual reality applications, alongside complementary peripherals.

Between May and August 2016, HP divested several assets including TeamSite and Exstream, selling them to OpenText.

In November 2017, HP expanded its printing division through the acquisition of Samsung Electronics' printer business for $1.05 billion.

HP further broadened its gaming portfolio by acquiring Kingston Technology's gaming brand HyperX for $425 million in February 2021; this deal excluded Kingston’s memory and storage product lines and was finalized by June 2021.

In February 2022, HP enhanced its sustainable packaging initiatives by acquiring Choose Packaging, a company based in Edinburgh.

A significant acquisition occurred in March 2022 when HP purchased California-based communication hardware and software provider Poly Inc. for $3.3 billion in cash, bolstering its offerings for hybrid work environments.

In May 2024, HP announced a reorganization of its consumer PC range to support AI integration efforts. Most PC models—excluding Omen—were rebranded under the reintroduced Omni brand umbrella, including product lines such as OmniBook, OmniStudio, and OmniDesk. These new offerings incorporate AI-enabled hardware and software features while continuing alongside existing non-AI models.

Proposed Xerox acquisition attempt

On November 5, 2019, The Wall Street Journal revealed that Xerox, a company specializing in print and digital document solutions, was exploring the possibility of acquiring HP. HP unanimously dismissed two unsolicited proposals, one of which offered $22 per share in a combination of cash and stock. The company expressed concerns about "uncertainty surrounding Xerox's capacity to secure the cash component," highlighting Xerox's smaller market capitalization and its assertive tactics. Subsequently, on November 26, Xerox published an open letter endorsing its offer as "compelling" and announced plans to engage directly with HP shareholders.

By January 2020, Xerox declared intentions to seek the replacement of HP's board members during the April shareholder meeting. HP linked this bid to activist investor Carl Icahn. In February 2020, Xerox increased its proposal to $24 per share.

On February 21, HP adopted a shareholder rights plan designed to defend against the hostile takeover attempt. Shortly after, on February 25, HP unveiled a $16 billion capital return initiative for fiscal years 2020 through 2022, which included $8 billion allocated for share repurchases and a commitment to return 100% of free cash flow over the long term. HP criticized Xerox's offer as a "flawed value exchange" grounded in "overestimated synergies." Ultimately, on March 5, HP declined the $24-per-share proposal.

Xerox withdrew its bid on March 31, 2020, citing the economic instability caused by the COVID-19 pandemic and the ensuing global health crisis as reasons that rendered the acquisition pursuit unfeasible.

Product portfolio and operations

HP's product range encompasses personal computers—including consumer and business laptops and desktops—printers, scanners, monitors, peripherals, workstations, servers, as well as software and services such as 3D printing solutions.

As of 2024, its consumer PC offerings feature Essential and Pavilion lines targeting general consumers; Envy and Spectre series aimed at premium or prosumer segments; and Omen products focused on gaming. Additionally, AI-integrated Omni products include OmniBook, OmniDesk, and OmniStudio. Business-oriented PCs are marketed under Pro and EliteBook brands. Professional-grade workstations consist of the HP Z desktop lineup alongside ZBook mobile workstations.

The company also manufactures printers under DeskJet, OfficeJet, LaserJet, and Envy series.

Corporate overview

During fiscal year 2023, HP reported total revenues of $54 billion. This included $24.7 billion from notebook sales, $10.9 billion from desktop computers, $11.4 billion from printer supplies, $4.2 billion generated by commercial printers, and $2.4 billion stemming from consumer printer sales. More than 65% of the revenue originated from markets outside the United States.

In the first quarter of fiscal 2024, net revenue totaled $13.2 billion, reflecting a year-over-year decline of 4.4% (or 4.9% when adjusted for constant currency). Operating activities produced net cash flow of $121 million with free cash flow turning positive at $25 million after accounting for investments in leases and property assets.

Significant financial metrics for HP Inc. (Fiscal years ending October 31):

Fiscal Year	Revenue (US$ billion)	Net Income (US$ billion)	Workforce Size
2015	50.4	3.7	?
2016	48.2	2.6	49,000
2017	52.2	2.5	49,000
2018	58.1	5.3	55,000
2019	58.3	3.1	56,000
2020	56.5	2.8	53,000
2021	63.2	6.5	51,000
2022	62.0	3.1	58,000
2023	53.4	3.2	58,000
2024	53.6	2.8	58,000

Formula 1

HP's engagement with Formula 1 commenced in 1988 through a one-season sponsorship of Larrousse. During the 1990s and early 2000s, HP played a supporting role as a minor sponsor and technology provider for several teams, including Forti in 1996, Jordan from 1996 to 2002, Benetton between 1997 and 1999, Minardi in 1997, Stewart during 1998-1999, Jaguar from 2000 to 2003, and later Renault in 2010.

Following its acquisition of Compaq, HP became the title sponsor of Williams Racing (then known as BMW WilliamsF1) from 2002 until 2005; prior to this, Compaq had sponsored the team from 2000 to 2001. This sponsorship arrangement concluded in 2005.

In April 2024, HP entered into a multi-year title sponsorship agreement with Scuderia Ferrari, encompassing the team's participation in the F1 Academy as well as its esports initiatives.

Association Football

Between 1995 and 1999, HP served as the shirt sponsor for English Premier League club Tottenham Hotspur, both before and after German brewery Holsten’s sponsorship. After acquiring enterprise software firm Autonomy in 2011, HP renewed its sponsorship via Autonomy starting with the 2010-11 season, showcasing the augmented reality platform Aurasma during the 2011-12 campaign. The branding reverted to HP for the final season of this partnership in 2013-14.

In February 2024, HP secured a three-year sleeve sponsorship deal with Real Madrid, marking the first time in the club’s 121-year history that it has featured a sleeve sponsor.

Sustainability

For the fiscal year ending October 31, 2023, HP reported total CO₂e emissions amounting to 19,764,400 tonnes. The company has set a target to cut emissions by 60% by 2025 compared to its 2015 levels and aims to achieve net zero greenhouse gas emissions by the year 2040.

HP’s sustainability efforts include reducing material usage in products, increasing recycled content incorporation, providing certified refurbished devices, and minimizing single-use plastics within packaging solutions. In partnership with First Mile in Haiti, HP has facilitated recycling efforts that have recovered more than 110 million plastic bottles at risk of entering oceans as of March 2024.

Demonstrating a commitment to circular economy principles, HP aims for at least 75% of its products and packaging to be derived from circular sources by 2030. The company earned a platinum EcoVadis rating in 2025 with a score of 90, an improvement over its score of 83 in 2024. Collaborations with Oxford Economics underscore technology’s critical role in promoting sustainability while generating positive business impacts.

Blocking Third-Party Ink Cartridges

In 2016, HP released printer firmware updates that disabled printers using ink or toner cartridges lacking "new or reused HP chips or electronic circuitry." This action sparked widespread criticism and resulted in class-action settlements totaling millions across multiple regions: $1.5 million in the United States, $700,000 CAD in Canada, as well as settlements in Australia and Europe amounting to $1.35 million. Despite these settlements, HP did not acknowledge any wrongdoing. The company maintained that the firmware was designed to improve user experience and safeguard against counterfeit cartridges infringing on its intellectual property rights.

As of 2023, many HP printer models continue to restrict use of third-party ink cartridges; however, some devices provide workarounds to bypass these limitations.

Disabling all-in-one printers

In 2023, HP was sued over allegations that it intentionally engineered its all-in-one printers to deactivate scanning and faxing capabilities once ink levels dropped.

Disabling ink cartridges

In February 2019, it was reported that HP remotely deactivated ink cartridges when users terminated their Instant Ink subscriptions, sparking debates about the company's digital rights management (DRM) methods.

Xinjiang region

The Australian Strategic Policy Institute listed HP in 2020 among 82 prominent brands potentially connected to forced Uyghur labor in China's Xinjiang area. Following the enactment of the U.S. Uyghur Forced Labor Prevention Act in 2022, HP reiterated its dedication to upholding human rights throughout its supply chain, explicitly banning forced labor and adhering to the UN Guiding Principles on Business and Human Rights as outlined in its Human Rights Policy.

Israeli conflicts

In 2023, HP along with Hewlett Packard Enterprise (HPE) faced scrutiny for Hewlett-Packard Israel providing equipment to the Israeli Police, Israeli Prison Service, and the Israeli Population and Immigration Authority. The BDS movement called for a boycott of HPE's IT services as well as HP Inc.'s printers, computers, and cartridges. In response, HP described the social media claims as "unfortunate and false" and emphasized its stance of political neutrality.

Obsolescence practices

In 2024, the French organization Halte à l'Obsolescence Programmée (HOP) lodged a complaint accusing HP of engaging in planned obsolescence. The allegation centers on HP printers disabling functionality when detecting empty cartridges despite residual ink, thereby forcing unnecessary cartridge replacements and increasing environmental impact.

Buggy drivers

In February 2025, HP issued defective BIOS updates through Windows Update that affected certain ProBook and EliteBook laptop models. The company acknowledged the problem and confirmed that an investigation is underway.

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