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The company won its first big contract in 1938 to provide the [[HP 200B]], a variation of its first product, the [[HP 200A]] low-distortion frequency oscillator<ref>{{Cite web |title=History and Facts: The beginning |url=https://www.hpmemoryproject.org/wa_pages/wall_a_page_00.htm |access-date=2023-01-20 |website=www.hpmemoryproject.org}}</ref> for [[Walt Disney]]'s production of the 1940 animated film ''[[Fantasia (1940 film)|Fantasia]]'', which allowed Hewlett and Packard to formally establish the Hewlett-Packard Company on July 2, 1939.<ref>{{Cite web|url=https://www.hpe.com/us/en/about/history/innovation-gallery/008-product.html|title=Innovation Gallery - Model 200B Audio Oscillator, 1939|access-date=May 9, 2024|website=Hewlett-Packard Enterprise|archive-url=https://web.archive.org/web/20230922172936/https://www.hpe.com/us/en/about/history/innovation-gallery/008-product.html|archive-date=September 22, 2023|url-status=live}}</ref> The company grew into a [[multinational corporation]] widely respected for its products. HP was the world's [[Market share of personal computer vendors|leading PC manufacturer]] from 2007 until the second quarter of 2013, when [[Lenovo]] moved ahead of HP.<ref>{{cite web |last=Kobie |first=Nicole |url=http://www.pcpro.co.uk/news/379297/hp-regains-pc-lead-over-lenovo |title=HP regains PC lead over Lenovo |website=PC Pro |date=January 14, 2013 |access-date=April 27, 2013 |archive-url=https://web.archive.org/web/20130410034352/http://www.pcpro.co.uk/news/379297/hp-regains-pc-lead-over-lenovo |archive-date=April 10, 2013 |url-status=dead}}</ref><ref>{{cite web|last=Montlake |first=Simon |url=https://www.forbes.com/sites/simonmontlake/2013/07/11/lenovo-shares-jump-as-pc-shipments-overtake-hp/ |title=Lenovo Shares Jump As PC Shipments Overtake HP |date=July 11, 2013 |website=Forbes}}</ref><ref name="2014 PC">{{cite press release|date=January 12, 2015|title=Gartner Says Worldwide PC Shipments Grew 1 Percent in Fourth Quarter of 2014|publisher=[[Gartner]]|url=https://www.gartner.com/en/newsroom/press-releases/2015-01-12-gartner-says-worldwide-pc-shipments-grew-1-percent-in-fourth-quarter-of-2014|access-date=October 7, 2020}}</ref> HP specialized in developing and manufacturing computing, data storage, and networking hardware; designing software; and delivering services. Major product lines included personal computing devices, enterprise and industry standard servers, related storage devices, networking products, software, and a range of printers and other imaging products. The company directly marketed its products to households; small- to medium-sized businesses and enterprises, as well as via online distribution; consumer-electronics and office-supply retailers; software partners; and major technology vendors. It also offered services and a consulting business for its products and partner products. | The company won its first big contract in 1938 to provide the [[HP 200B]], a variation of its first product, the [[HP 200A]] low-distortion frequency oscillator<ref>{{Cite web |title=History and Facts: The beginning |url=https://www.hpmemoryproject.org/wa_pages/wall_a_page_00.htm |access-date=2023-01-20 |website=www.hpmemoryproject.org}}</ref> for [[Walt Disney]]'s production of the 1940 animated film ''[[Fantasia (1940 film)|Fantasia]]'', which allowed Hewlett and Packard to formally establish the Hewlett-Packard Company on July 2, 1939.<ref>{{Cite web|url=https://www.hpe.com/us/en/about/history/innovation-gallery/008-product.html|title=Innovation Gallery - Model 200B Audio Oscillator, 1939|access-date=May 9, 2024|website=Hewlett-Packard Enterprise|archive-url=https://web.archive.org/web/20230922172936/https://www.hpe.com/us/en/about/history/innovation-gallery/008-product.html|archive-date=September 22, 2023|url-status=live}}</ref> The company grew into a [[multinational corporation]] widely respected for its products. HP was the world's [[Market share of personal computer vendors|leading PC manufacturer]] from 2007 until the second quarter of 2013, when [[Lenovo]] moved ahead of HP.<ref>{{cite web |last=Kobie |first=Nicole |url=http://www.pcpro.co.uk/news/379297/hp-regains-pc-lead-over-lenovo |title=HP regains PC lead over Lenovo |website=PC Pro |date=January 14, 2013 |access-date=April 27, 2013 |archive-url=https://web.archive.org/web/20130410034352/http://www.pcpro.co.uk/news/379297/hp-regains-pc-lead-over-lenovo |archive-date=April 10, 2013 |url-status=dead}}</ref><ref>{{cite web|last=Montlake |first=Simon |url=https://www.forbes.com/sites/simonmontlake/2013/07/11/lenovo-shares-jump-as-pc-shipments-overtake-hp/ |title=Lenovo Shares Jump As PC Shipments Overtake HP |date=July 11, 2013 |website=Forbes}}</ref><ref name="2014 PC">{{cite press release|date=January 12, 2015|title=Gartner Says Worldwide PC Shipments Grew 1 Percent in Fourth Quarter of 2014|publisher=[[Gartner]]|url=https://www.gartner.com/en/newsroom/press-releases/2015-01-12-gartner-says-worldwide-pc-shipments-grew-1-percent-in-fourth-quarter-of-2014|access-date=October 7, 2020}}</ref> HP specialized in developing and manufacturing computing, data storage, and networking hardware; designing software; and delivering services. Major product lines included personal computing devices, enterprise and industry standard servers, related storage devices, networking products, software, and a range of printers and other imaging products. The company directly marketed its products to households; small- to medium-sized businesses and enterprises, as well as via online distribution; consumer-electronics and office-supply retailers; software partners; and major technology vendors. It also offered services and a consulting business for its products and partner products. | ||
In 1999, HP [[Corporate spin-off|spun off]] its electronic and bio-analytical test and measurement instruments business into [[Agilent Technologies]]; HP retained focus on its later products, including computers and printers. It [[merger|merged]] with [[Compaq]] in 2002, and acquired [[Electronic Data Systems]] in 2008, which led to combined revenues of $118.4 billion that year and a [[Fortune 500]] ranking of 9 in 2009. In November 2009, HP announced its acquisition of [[3Com]],<ref name="acquisitions-cement-companys-no-1-status">{{cite web|last=O'Brien |first=Chris |url=https://www.mercurynews.com/2010/04/15/obrien-hps-acquisitions-cement-companys-no-1-status/ |title=HP's acquisitions cement company's No. 1 status |work=San Jose Mercury News |access-date=April 17, 2022 |date=April 15, 2010}}</ref> and closed the deal on April 12, 2010.<ref>{{cite press release|date=April 12, 2010|title=HP Completes Acquisition of 3Com Corporation, Accelerates Converged Infrastructure Strategy|url=https://www8.hp.com/us/en/hp-news/press-release.html?id=342187#.X36X3S9h1VQ|access-date=October 7, 2020|publisher=Hewlett-Packard}}</ref> On April 28, 2010, HP announced its buyout of [[Palm, Inc.]] for $1.2 billion.<ref>{{Cite news|url=https://www.nytimes.com/2010/04/29/technology/29palm.html |title=H.P. to Pay $1.2 billion for Palm |newspaper=The New York Times |date=April 28, 2010 |first1=Ashlee |last1=Vance |author-link=Ashlee Vance |first2=Jenna |last2=Wortham}}</ref> On September 2, 2010, HP won its [[Bid price|bidding war]] for [[3PAR]] with a $33 a share offer ($2.07 billion), which [[Dell]] declined to match.<ref>{{cite news|url=http://www2.journalnow.com/content/2010/sep/03/dell-gives-up-bidding-war-for-3par-inc/business/ |archive-url=https://archive.today/20120126094452/http://www2.journalnow.com/content/2010/sep/03/dell-gives-up-bidding-war-for-3par-inc/business/ |url-status=dead |archive-date=January 26, 2012 |title=Dell gives up bidding war for 3Par Inc. |work=[[Winston-Salem Journal]] |agency= | In 1999, HP [[Corporate spin-off|spun off]] its electronic and bio-analytical test and measurement instruments business into [[Agilent Technologies]]; HP retained focus on its later products, including computers and printers. It [[merger|merged]] with [[Compaq]] in 2002, and acquired [[Electronic Data Systems]] in 2008, which led to combined revenues of $118.4 billion that year and a [[Fortune 500]] ranking of 9 in 2009. In November 2009, HP announced its acquisition of [[3Com]],<ref name="acquisitions-cement-companys-no-1-status">{{cite web|last=O'Brien |first=Chris |url=https://www.mercurynews.com/2010/04/15/obrien-hps-acquisitions-cement-companys-no-1-status/ |title=HP's acquisitions cement company's No. 1 status |work=San Jose Mercury News |access-date=April 17, 2022 |date=April 15, 2010}}</ref> and closed the deal on April 12, 2010.<ref>{{cite press release|date=April 12, 2010|title=HP Completes Acquisition of 3Com Corporation, Accelerates Converged Infrastructure Strategy|url=https://www8.hp.com/us/en/hp-news/press-release.html?id=342187#.X36X3S9h1VQ|access-date=October 7, 2020|publisher=Hewlett-Packard}}</ref> On April 28, 2010, HP announced its buyout of [[Palm, Inc.]] for $1.2 billion.<ref>{{Cite news|url=https://www.nytimes.com/2010/04/29/technology/29palm.html |title=H.P. to Pay $1.2 billion for Palm |newspaper=The New York Times |date=April 28, 2010 |first1=Ashlee |last1=Vance |author-link=Ashlee Vance |first2=Jenna |last2=Wortham}}</ref> On September 2, 2010, HP won its [[Bid price|bidding war]] for [[3PAR]] with a $33 a share offer ($2.07 billion), which [[Dell]] declined to match.<ref>{{cite news|url=http://www2.journalnow.com/content/2010/sep/03/dell-gives-up-bidding-war-for-3par-inc/business/ |archive-url=https://archive.today/20120126094452/http://www2.journalnow.com/content/2010/sep/03/dell-gives-up-bidding-war-for-3par-inc/business/ |url-status=dead |archive-date=January 26, 2012 |title=Dell gives up bidding war for 3Par Inc. |work=[[Winston-Salem Journal]] |agency=Associated Press |date=September 3, 2010 |access-date=September 3, 2010}}</ref> | ||
On November 1, 2015, Hewlett-Packard was split into two separate companies. Its enterprise products and services business were spun-off to form [[Hewlett Packard Enterprise]], while its personal computer and printer businesses became [[HP Inc.]]<ref>{{Cite news|last1=Mukherjee|first1=Supantha|last2=Chan|first2=Edwin|date=October 6, 2014|title=Hewlett-Packard to split into two public companies, lay off 5,000|website= | On November 1, 2015, Hewlett-Packard was split into two separate companies. Its enterprise products and services business were spun-off to form [[Hewlett Packard Enterprise]], while its personal computer and printer businesses became [[HP Inc.]]<ref>{{Cite news|last1=Mukherjee|first1=Supantha|last2=Chan|first2=Edwin|date=October 6, 2014|title=Hewlett-Packard to split into two public companies, lay off 5,000|website=Reuters|url=https://www.reuters.com/article/us-hp-restructuring-idUSKCN0HV0U720141006|access-date=October 7, 2020}}</ref> | ||
==History== | ==History== | ||
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HP released the [[HP Pavilion dv1000 series]] of laptops in 2004, which included the HP Pavilion dv1658 and dv1040 models. Other laptop models available around this time were the dv4000, dv5000, and the dv8000 series. | HP released the [[HP Pavilion dv1000 series]] of laptops in 2004, which included the HP Pavilion dv1658 and dv1040 models. Other laptop models available around this time were the dv4000, dv5000, and the dv8000 series. | ||
In January 2005, following years of underperformance, which included HP's Compaq merger that fell short<ref name=":0">{{Cite web|url=https://money.cnn.com/2005/03/29/technology/hp_outlook/|title=HP's Hurd mentality|last=La Monica|first=Paul|website=money.cnn.com|publisher=CNN Money|date=March 29, 2005|access-date=February 12, 2018}}</ref> and disappointing earning reports,<ref>{{Cite news|newspaper= | In January 2005, following years of underperformance, which included HP's Compaq merger that fell short<ref name=":0">{{Cite web|url=https://money.cnn.com/2005/03/29/technology/hp_outlook/|title=HP's Hurd mentality|last=La Monica|first=Paul|website=money.cnn.com|publisher=CNN Money|date=March 29, 2005|access-date=February 12, 2018}}</ref> and disappointing earning reports,<ref>{{Cite news|newspaper=The Wall Street Journal|first=Pui-Wing|last=Tam|date=February 10, 2005|title=H-P's Board Ousts Fiorina as CEO|url=https://www.wsj.com/articles/SB110795431536149934|url-status=live|access-date=February 12, 2018|archive-url=https://web.archive.org/web/20150123172707/http://www.wsj.com/articles/SB110795431536149934|archive-date=January 23, 2015}}</ref> the board asked Fiorina to resign as chair and chief executive officer of the company, and she did on February 9, 2005.<ref>{{Cite news|last=Sullivan|first=Tom|title=Fiorina resigns HP CEO post|language=en|work=InfoWorld|url=http://www.infoworld.com/article/2643814/operating-systems/fiorina-resigns-hp-ceo-post.html|date=February 5, 2009|access-date=July 22, 2017}}</ref> After her departure, HP's stock jumped 6.9 percent.<ref>{{Cite web|url=https://money.cnn.com/2005/02/09/technology/hp_fiorina/index.htm|title=Fiorina out, HP stock soars|last=La Monica|first=Paul|website=money.cnn.com|publisher=CNN Money|date=February 10, 2005|access-date=February 12, 2018}}</ref> Robert Wayman, chief financial officer of HP, served as interim CEO while the board undertook a formal search for a replacement.<ref>{{Cite web|url=https://www.gsb.stanford.edu/sites/gsb/files/publication-pdf/cgri-closer-look-21-hp-leadership-challenges.pdf|title=Leadership Challenges at Hewlett-Packard: Through the Looking Glass|last1=Larcker|first1=David|last2=Tayan|first2=Brian|date=October 11, 2011|website=www.gsb.stanford.edu}}</ref> | ||
[[Mark Hurd]] of [[NCR Corporation]] was hired to take over as CEO and president, effective April 1, 2005. Hurd was the board's top choice given the revival of NCR that took place under his leadership.<ref name=":0" /> | [[Mark Hurd]] of [[NCR Corporation]] was hired to take over as CEO and president, effective April 1, 2005. Hurd was the board's top choice given the revival of NCR that took place under his leadership.<ref name=":0" /> | ||
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On April 28, 2010, [[Palm, Inc.]] and HP announced that the latter would buy the former for {{US$|long=no|1.2 billion}} in cash and debt.<ref>{{cite press release|url=http://www8.hp.com/us/en/hp-news/press-release.html?id=416441|title=HP to Acquire Palm for {{US$|long=no|1.2 billion}} |publisher=Hewlett-Packard |access-date=May 18, 2017}}</ref> Adding Palm handsets to the HP product line created some overlap with the [[iPAQ]] series of mobile devices, but was thought to significantly improve HP's mobile presence as iPAQ devices had not been selling well. Buying Palm, Inc. gave HP a library of valuable patents and the mobile operating platform, [[webOS]]. On July 1, 2010, the acquisition of Palm, Inc. was finalized.<ref>{{cite web|website=[[VentureBeat]]|first=Dean|last=Takahashi|url=https://venturebeat.com/2010/07/01/hp-closes-deal-on-1-2b-acquisition-of-palm/|title=HP Closes deal on $1.2B acquisition of Palm|date=July 1, 2010}}</ref> Purchasing its webOS was a big gamble to build HP's own ecosystem.<ref name="cliff">{{cite magazine|first1=Cliff|last1=Edwards|first2=Aaron|last2=Ricadela|magazine=[[BusinessWeek]]|url=http://www.businessweek.com/magazine/content/11_27/b4235040584134.htm|title=HP's Plan to Make TouchPad a Hit|date=June 23, 2011|access-date=June 24, 2011|archive-url=https://archive.today/20130118144710/http://www.businessweek.com/magazine/content/11_27/b4235040584134.htm|archive-date=January 18, 2013|url-status=dead}}</ref> On July 1, 2011, HP launched its first tablet, [[HP TouchPad]], which brought webOS to tablet devices. On September 2, 2010, HP won the [[Bid price|bidding war]] for [[3PAR]] with a {{US$|long=no|33}} a share offer ({{US$|long=no|2.07 billion}}) that Dell declined to match. After HP acquired Palm Inc., it phased out the Compaq brand. | On April 28, 2010, [[Palm, Inc.]] and HP announced that the latter would buy the former for {{US$|long=no|1.2 billion}} in cash and debt.<ref>{{cite press release|url=http://www8.hp.com/us/en/hp-news/press-release.html?id=416441|title=HP to Acquire Palm for {{US$|long=no|1.2 billion}} |publisher=Hewlett-Packard |access-date=May 18, 2017}}</ref> Adding Palm handsets to the HP product line created some overlap with the [[iPAQ]] series of mobile devices, but was thought to significantly improve HP's mobile presence as iPAQ devices had not been selling well. Buying Palm, Inc. gave HP a library of valuable patents and the mobile operating platform, [[webOS]]. On July 1, 2010, the acquisition of Palm, Inc. was finalized.<ref>{{cite web|website=[[VentureBeat]]|first=Dean|last=Takahashi|url=https://venturebeat.com/2010/07/01/hp-closes-deal-on-1-2b-acquisition-of-palm/|title=HP Closes deal on $1.2B acquisition of Palm|date=July 1, 2010}}</ref> Purchasing its webOS was a big gamble to build HP's own ecosystem.<ref name="cliff">{{cite magazine|first1=Cliff|last1=Edwards|first2=Aaron|last2=Ricadela|magazine=[[BusinessWeek]]|url=http://www.businessweek.com/magazine/content/11_27/b4235040584134.htm|title=HP's Plan to Make TouchPad a Hit|date=June 23, 2011|access-date=June 24, 2011|archive-url=https://archive.today/20130118144710/http://www.businessweek.com/magazine/content/11_27/b4235040584134.htm|archive-date=January 18, 2013|url-status=dead}}</ref> On July 1, 2011, HP launched its first tablet, [[HP TouchPad]], which brought webOS to tablet devices. On September 2, 2010, HP won the [[Bid price|bidding war]] for [[3PAR]] with a {{US$|long=no|33}} a share offer ({{US$|long=no|2.07 billion}}) that Dell declined to match. After HP acquired Palm Inc., it phased out the Compaq brand. | ||
On August 6, 2010, Hurd [[Mark Hurd#Resignation|resigned amid controversy]] and CFO [[Cathie Lesjak]] assumed the role of interim CEO. Hurd had turned HP around and was widely regarded as one of [[Silicon Valley]]'s star CEOs, and under his leadership, HP became the largest computer company in the world when measured by total revenue.<ref>{{Cite news|last1=Meyers|first1=Michelle|last2=Kerstetter|first2=Jim|url=https://www.cnet.com/news/oracle-hires-former-hp-ceo-hurd-as-president/|title=Oracle hires former HP CEO Hurd as president|date=September 6, 2010|work=CNET|access-date=March 1, 2018|language=en}}</ref> He was accused of [[sexual harassment]] against a colleague, though the allegations were deemed baseless. The investigation led to questions concerning some of his private expenses and the lack of disclosure related to the friendship.<ref name="wjs1">{{cite news|url=https://www.wsj.com/articles/SB10001424052748704268004575417800832885086 |title=Hurd Neglected To Follow H-P Code |author=Ben Worthen And Joann S. Lublin |date=August 8, 2010 |work= | On August 6, 2010, Hurd [[Mark Hurd#Resignation|resigned amid controversy]] and CFO [[Cathie Lesjak]] assumed the role of interim CEO. Hurd had turned HP around and was widely regarded as one of [[Silicon Valley]]'s star CEOs, and under his leadership, HP became the largest computer company in the world when measured by total revenue.<ref>{{Cite news|last1=Meyers|first1=Michelle|last2=Kerstetter|first2=Jim|url=https://www.cnet.com/news/oracle-hires-former-hp-ceo-hurd-as-president/|title=Oracle hires former HP CEO Hurd as president|date=September 6, 2010|work=CNET|access-date=March 1, 2018|language=en}}</ref> He was accused of [[sexual harassment]] against a colleague, though the allegations were deemed baseless. The investigation led to questions concerning some of his private expenses and the lack of disclosure related to the friendship.<ref name="wjs1">{{cite news|url=https://www.wsj.com/articles/SB10001424052748704268004575417800832885086 |title=Hurd Neglected To Follow H-P Code |author=Ben Worthen And Joann S. Lublin |date=August 8, 2010 |work=The Wall Street Journal}}</ref><ref name="content.time.com">{{cite magazine|last=Gregory |first=Sean |url=http://content.time.com/time/business/article/0,8599,2009617,00.html |title=Mark Hurd Ouster: Why HP Had to Force CEO's Resignation |date=August 10, 2010 |magazine=Time}}</ref> Some observers have argued that Hurd was innocent, but the board asked for his resignation to avoid [[Black PR|negative public relations]].<ref name="BI-hurd">{{cite web|last=Blodget |first=Henry |url=http://www.businessinsider.com/backlash-against-hewlett-packard-grows-it-seems-mark-hurd-fired-because-company-scared-of-bad-pr-over-bogus-sexual-harassment-allegation-2010-8 |title=Here's The Real Reason HP CEO Mark Hurd Was Fired (As Best We Can Tell ...) |date=August 10, 2010 |work=Business Insider}}</ref> | ||
Public analysis was divided between those who saw it as a commendable tough action by HP in handling expenses irregularities, and those who saw it as an ill-advised, hasty, and expensive reaction in ousting a remarkably capable leader who had turned the business around.<ref name="wjs1" /><ref name="content.time.com" /><ref>{{cite news|last1=Vance |first1=Ashlee |last2=Richtel |first2=Matt |title=H.P. Followed a P.R. Specialist's Advice in the Hurd Case |url=https://www.nytimes.com/2010/08/10/technology/10hp.html |work=The New York Times |date=August 9, 2010}}</ref> At HP, Hurd oversaw a series of acquisitions worth over $20 billion, which allowed the company to expand into services of networking equipment and smartphones.<ref>{{Cite news|url=https://www.theatlantic.com/business/archive/2010/09/does-hurds-new-oracle-gig-prove-business-ethics-dont-matter/62559/|title=Does Hurd's New Oracle Gig Prove Business Ethics Don't Matter?|last=Indiviglio|first=Daniel|work=The Atlantic|date=September 7, 2010|access-date=March 1, 2018|language=en-US}}</ref> HP shares dropped by 8.4% in after-hours trading, hitting a 52-week low with $9 billion in market capitalization shaved off.<ref>{{cite news|url=http://www.businessweek.com/articles/2013-01-11/100-top-employees-who-left-hewlett-packard-since-2010#r=lr-fst |archive-url=https://web.archive.org/web/20130113083725/http://www.businessweek.com/articles/2013-01-11/100-top-employees-who-left-hewlett-packard-since-2010#r=lr-fst |url-status=dead |archive-date=January 13, 2013 |title=One Hundred Top Employees Who Left Hewlett-Packard Since 2010 |publisher=[[Bloomberg L.P.|Bloomberg]] |date=January 11, 2013 |access-date=January 18, 2013}}</ref> [[Larry Ellison]] publicly attacked HP's board for Hurd's ousting, stating that the HP board had "made the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago".<ref>{{cite news|last=Vance |first=Ashlee |title=Oracle Chief Faults H.P. Board for Forcing Hurd's Resignation |url=https://www.nytimes.com/2010/08/10/technology/10hewlett.html |work=The New York Times |date=August 9, 2010}}</ref> | Public analysis was divided between those who saw it as a commendable tough action by HP in handling expenses irregularities, and those who saw it as an ill-advised, hasty, and expensive reaction in ousting a remarkably capable leader who had turned the business around.<ref name="wjs1" /><ref name="content.time.com" /><ref>{{cite news|last1=Vance |first1=Ashlee |last2=Richtel |first2=Matt |title=H.P. Followed a P.R. Specialist's Advice in the Hurd Case |url=https://www.nytimes.com/2010/08/10/technology/10hp.html |work=The New York Times |date=August 9, 2010}}</ref> At HP, Hurd oversaw a series of acquisitions worth over $20 billion, which allowed the company to expand into services of networking equipment and smartphones.<ref>{{Cite news|url=https://www.theatlantic.com/business/archive/2010/09/does-hurds-new-oracle-gig-prove-business-ethics-dont-matter/62559/|title=Does Hurd's New Oracle Gig Prove Business Ethics Don't Matter?|last=Indiviglio|first=Daniel|work=The Atlantic|date=September 7, 2010|access-date=March 1, 2018|language=en-US}}</ref> HP shares dropped by 8.4% in after-hours trading, hitting a 52-week low with $9 billion in market capitalization shaved off.<ref>{{cite news|url=http://www.businessweek.com/articles/2013-01-11/100-top-employees-who-left-hewlett-packard-since-2010#r=lr-fst |archive-url=https://web.archive.org/web/20130113083725/http://www.businessweek.com/articles/2013-01-11/100-top-employees-who-left-hewlett-packard-since-2010#r=lr-fst |url-status=dead |archive-date=January 13, 2013 |title=One Hundred Top Employees Who Left Hewlett-Packard Since 2010 |publisher=[[Bloomberg L.P.|Bloomberg]] |date=January 11, 2013 |access-date=January 18, 2013}}</ref> [[Larry Ellison]] publicly attacked HP's board for Hurd's ousting, stating that the HP board had "made the worst personnel decision since the idiots on the Apple board fired Steve Jobs many years ago".<ref>{{cite news|last=Vance |first=Ashlee |title=Oracle Chief Faults H.P. Board for Forcing Hurd's Resignation |url=https://www.nytimes.com/2010/08/10/technology/10hewlett.html |work=The New York Times |date=August 9, 2010}}</ref> | ||
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On September 30, 2010, [[Léo Apotheker]] was named HP's new CEO and president.<ref>{{cite press release|date=September 30, 2010|title=Léo Apotheker Named CEO and President of HP|url=https://investor.hp.com/news/press-release-details/2010/Lo-Apotheker-Named-CEO-and-President-of-HP/default.aspx|access-date=October 7, 2020|publisher=Hewlett-Packard}}</ref> His appointment sparked a strong reaction from Ellison,<ref>{{cite web|last=Simons|first=Mike|title=Larry Ellison outraged as HP hands top job to ex -SAP CEO|url=http://www.computerworlduk.com/news/it-business/3242184/larry-ellison-outraged-as-hp-hands-top-job-to-ex--sap-ceo/|url-status=dead|archive-url=https://archive.today/20130119201028/http://www.computerworlduk.com/news/it-business/3242184/larry-ellison-outraged-as-hp-hands-top-job-to-ex--sap-ceo/|archive-date=January 19, 2013|date=October 4, 2010|access-date=July 7, 2011|website=ComputerworldUK.com}}</ref> who complained that Apotheker had been in charge of [[SAP]] when one of its subsidiaries was systematically stealing software from Oracle. SAP accepted that its subsidiary, which has now closed, illegally accessed Oracle intellectual property.<ref>{{cite web|last=Niccolai|first=James|title=SAP accepts some liability in Oracle lawsuit|url=http://www.computerworlduk.com/news/applications/3234474/sap-accepts-some-liability-in-oracle-lawsuit/|url-status=dead|archive-url=https://archive.today/20120729131937/http://www.computerworlduk.com/news/applications/3234474/sap-accepts-some-liability-in-oracle-lawsuit/|archive-date=July 29, 2012|date=August 6, 2010|access-date=July 7, 2011|website=ComputerworldUK.com}}</ref> Following Hurd's departure, HP was seen to be problematic by the market, with margins falling and having failed to redirect and establish itself in major new markets such as cloud and mobile services.{{citation needed|date=August 2014}} Apotheker's strategy was to broadly aim at disposing hardware and moving into the more profitable [[software]] [[Business service provider|services]] [[business sector|sector]]. On August 18, 2011, HP announced that it would strategically exit the [[smartphone]] and [[tablet computer]] business, and focus on higher-margin "strategic priorities of Cloud, solutions and software with an emphasis on enterprise, commercial and government markets".<ref>{{cite web|url=http://h30261.www3.hp.com/phoenix.zhtml?c=71087&p=irol-newsArticle&ID=1598003&highlight=|title=P Reports Third Quarter 2011 Results and Initiates Company Transformation |website=HP.com |access-date=August 18, 2011}}</ref> It also contemplated selling off its personal computer division or spinning it off into a separate company,<ref>{{cite news|last=Iwatani |first=Yukari |url=https://www.wsj.com/articles/SB10001424053111904070604576516770382416428 |title=Pioneering Firm Bows to 'Post-PC World' |work=The Wall Street Journal |date=August 19, 2011 |access-date=November 30, 2011}}</ref> and quitting PC development while continuing to sell servers and other equipment to business customers, which was a strategy undertaken by IBM in 2005.<ref>{{cite web|last=Robertson|first=Jordan|date=August 18, 2011|title=In nod to IBM, HP overhaul minimizes consumers|url=https://finance.yahoo.com/news/In-nod-to-IBM-HP-overhaul-apf-707823588.html|website=Yahoo! Finance|url-status=dead|archive-url=https://web.archive.org/web/20130911000845/https://finance.yahoo.com/news/In-nod-to-IBM-HP-overhaul-apf-707823588.html|archive-date=September 11, 2013}}</ref> | On September 30, 2010, [[Léo Apotheker]] was named HP's new CEO and president.<ref>{{cite press release|date=September 30, 2010|title=Léo Apotheker Named CEO and President of HP|url=https://investor.hp.com/news/press-release-details/2010/Lo-Apotheker-Named-CEO-and-President-of-HP/default.aspx|access-date=October 7, 2020|publisher=Hewlett-Packard}}</ref> His appointment sparked a strong reaction from Ellison,<ref>{{cite web|last=Simons|first=Mike|title=Larry Ellison outraged as HP hands top job to ex -SAP CEO|url=http://www.computerworlduk.com/news/it-business/3242184/larry-ellison-outraged-as-hp-hands-top-job-to-ex--sap-ceo/|url-status=dead|archive-url=https://archive.today/20130119201028/http://www.computerworlduk.com/news/it-business/3242184/larry-ellison-outraged-as-hp-hands-top-job-to-ex--sap-ceo/|archive-date=January 19, 2013|date=October 4, 2010|access-date=July 7, 2011|website=ComputerworldUK.com}}</ref> who complained that Apotheker had been in charge of [[SAP]] when one of its subsidiaries was systematically stealing software from Oracle. SAP accepted that its subsidiary, which has now closed, illegally accessed Oracle intellectual property.<ref>{{cite web|last=Niccolai|first=James|title=SAP accepts some liability in Oracle lawsuit|url=http://www.computerworlduk.com/news/applications/3234474/sap-accepts-some-liability-in-oracle-lawsuit/|url-status=dead|archive-url=https://archive.today/20120729131937/http://www.computerworlduk.com/news/applications/3234474/sap-accepts-some-liability-in-oracle-lawsuit/|archive-date=July 29, 2012|date=August 6, 2010|access-date=July 7, 2011|website=ComputerworldUK.com}}</ref> Following Hurd's departure, HP was seen to be problematic by the market, with margins falling and having failed to redirect and establish itself in major new markets such as cloud and mobile services.{{citation needed|date=August 2014}} Apotheker's strategy was to broadly aim at disposing hardware and moving into the more profitable [[software]] [[Business service provider|services]] [[business sector|sector]]. On August 18, 2011, HP announced that it would strategically exit the [[smartphone]] and [[tablet computer]] business, and focus on higher-margin "strategic priorities of Cloud, solutions and software with an emphasis on enterprise, commercial and government markets".<ref>{{cite web|url=http://h30261.www3.hp.com/phoenix.zhtml?c=71087&p=irol-newsArticle&ID=1598003&highlight=|title=P Reports Third Quarter 2011 Results and Initiates Company Transformation |website=HP.com |access-date=August 18, 2011}}</ref> It also contemplated selling off its personal computer division or spinning it off into a separate company,<ref>{{cite news|last=Iwatani |first=Yukari |url=https://www.wsj.com/articles/SB10001424053111904070604576516770382416428 |title=Pioneering Firm Bows to 'Post-PC World' |work=The Wall Street Journal |date=August 19, 2011 |access-date=November 30, 2011}}</ref> and quitting PC development while continuing to sell servers and other equipment to business customers, which was a strategy undertaken by IBM in 2005.<ref>{{cite web|last=Robertson|first=Jordan|date=August 18, 2011|title=In nod to IBM, HP overhaul minimizes consumers|url=https://finance.yahoo.com/news/In-nod-to-IBM-HP-overhaul-apf-707823588.html|website=Yahoo! Finance|url-status=dead|archive-url=https://web.archive.org/web/20130911000845/https://finance.yahoo.com/news/In-nod-to-IBM-HP-overhaul-apf-707823588.html|archive-date=September 11, 2013}}</ref> | ||
HP's stock dropped by about a further 40% after the company abruptly announced a number of decisions: to discontinue its webOS device business (mobile phones and tablet computers), the intent to sell its [[personal computer]] division (at the time HP was the largest personal computer manufacturer in the world), and to acquire British [[big data]] software firm [[Autonomy Corporation|Autonomy]] for a 79% [[control premium|premium]], seen externally as an "absurdly high" price<ref name="bloomberg29nov2012" /> for a business with known concerns over its accounts.<ref>{{cite web |title=HPQ stock since naming Leo Apotheker CEO. |url=http://investing.money.msn.com/investments/equity-charts?symbol=US%3aHPQ |website=MSN Money |access-date=August 30, 2014 |archive-url=https://web.archive.org/web/20140728102337/http://investing.money.msn.com/investments/equity-charts?symbol=US%3aHPQ |archive-date=July 28, 2014 |url-status=dead}}</ref> Media analysts described HP's actions as a "botched strategy shift" and a "chaotic" attempt to rapidly [[Turnaround management|reposition]] HP and enhance earnings.<ref name="bloomberg29nov2012">{{cite web |url=http://www.businessweek.com/articles/2012-11-29/why-hewlett-packards-impulse-buy-didnt-pay-off |title=Why Hewlett-Packard's Impulse Buy Didn't Pay Off |website=[[Bloomberg BusinessWeek]] |date=November 29, 2012 |quote=Apotheker believed that HP's platform was sinking ... [and] appeared to be in a hurry to transform the company ... In a rapid series of moves announced in August 2011, Apotheker killed HP's six-week-old TouchPad tablet, explored plans for a spin-out of its PC business, and championed the {{US$|long=no|10.3 billion}} acquisition of Autonomy. One former HP executive who worked there at the time says it appeared that Apotheker and the board didn't know what to do, and were trying anything they could think of. It wasn't a strategy, he says. It was chaos ... Oracle CEO Larry Ellison called Autonomy's asking price 'absurdly high'. |archive-url=https://web.archive.org/web/20121203051546/http://www.businessweek.com/articles/2012-11-29/why-hewlett-packards-impulse-buy-didnt-pay-off |archive-date=2012-12-03 |url-status=dead}}</ref><ref name="telegraph19aug2011">{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/industry/8709821/Autonomy-board-backs-7bn-Hewlett-Packard-offer.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/industry/8709821/Autonomy-board-backs-7bn-Hewlett-Packard-offer.html |archive-date=January 11, 2022 |url-access=subscription |url-status=live|title=Autonomy board backs £7bn Hewlett-Packard offer|newspaper=[[The Daily Telegraph]]|date=August 19, 2011}}{{cbignore}}</ref><ref name="reuters3oct2011">'{{cite web|url=https://www.reuters.com/article/us-hp-autonomy-idUSTRE79269E20111003|title=HP closes Autonomy deal|website= | HP's stock dropped by about a further 40% after the company abruptly announced a number of decisions: to discontinue its webOS device business (mobile phones and tablet computers), the intent to sell its [[personal computer]] division (at the time HP was the largest personal computer manufacturer in the world), and to acquire British [[big data]] software firm [[Autonomy Corporation|Autonomy]] for a 79% [[control premium|premium]], seen externally as an "absurdly high" price<ref name="bloomberg29nov2012" /> for a business with known concerns over its accounts.<ref>{{cite web |title=HPQ stock since naming Leo Apotheker CEO. |url=http://investing.money.msn.com/investments/equity-charts?symbol=US%3aHPQ |website=MSN Money |access-date=August 30, 2014 |archive-url=https://web.archive.org/web/20140728102337/http://investing.money.msn.com/investments/equity-charts?symbol=US%3aHPQ |archive-date=July 28, 2014 |url-status=dead}}</ref> Media analysts described HP's actions as a "botched strategy shift" and a "chaotic" attempt to rapidly [[Turnaround management|reposition]] HP and enhance earnings.<ref name="bloomberg29nov2012">{{cite web |url=http://www.businessweek.com/articles/2012-11-29/why-hewlett-packards-impulse-buy-didnt-pay-off |title=Why Hewlett-Packard's Impulse Buy Didn't Pay Off |website=[[Bloomberg BusinessWeek]] |date=November 29, 2012 |quote=Apotheker believed that HP's platform was sinking ... [and] appeared to be in a hurry to transform the company ... In a rapid series of moves announced in August 2011, Apotheker killed HP's six-week-old TouchPad tablet, explored plans for a spin-out of its PC business, and championed the {{US$|long=no|10.3 billion}} acquisition of Autonomy. One former HP executive who worked there at the time says it appeared that Apotheker and the board didn't know what to do, and were trying anything they could think of. It wasn't a strategy, he says. It was chaos ... Oracle CEO Larry Ellison called Autonomy's asking price 'absurdly high'. |archive-url=https://web.archive.org/web/20121203051546/http://www.businessweek.com/articles/2012-11-29/why-hewlett-packards-impulse-buy-didnt-pay-off |archive-date=2012-12-03 |url-status=dead}}</ref><ref name="telegraph19aug2011">{{cite news|url=https://www.telegraph.co.uk/finance/newsbysector/industry/8709821/Autonomy-board-backs-7bn-Hewlett-Packard-offer.html |archive-url=https://ghostarchive.org/archive/20220111/https://www.telegraph.co.uk/finance/newsbysector/industry/8709821/Autonomy-board-backs-7bn-Hewlett-Packard-offer.html |archive-date=January 11, 2022 |url-access=subscription |url-status=live|title=Autonomy board backs £7bn Hewlett-Packard offer|newspaper=[[The Daily Telegraph]]|date=August 19, 2011}}{{cbignore}}</ref><ref name="reuters3oct2011">'{{cite web|url=https://www.reuters.com/article/us-hp-autonomy-idUSTRE79269E20111003|title=HP closes Autonomy deal|website=Reuters|date=November 3, 2011|quote=Hewlett-Packard completed its $12 billion buy of British software firm Autonomy on Monday, the centerpiece of a botched strategy shift that cost ex-chief executive Leo Apotheker his job last month. HP said its 25.50 pounds-per-share cash offer – representing a 79 percent premium that many HP shareholders found excessive – had been accepted by investors.}}</ref> The Autonomy acquisition was objected to by HP's own CFO.<ref name="telegraph25nov2012">{{Cite web |date=2012-11-25 |title=Rage of the Titans: Whitman vs Lynch |url=https://www.telegraph.co.uk/finance/newsbysector/mediatechnologyandtelecoms/9700557/Rage-of-the-Titans-Whitman-vs-Lynch.html |access-date=2024-10-10 |website=The Telegraph |language=en}}</ref><ref name="hussainmotion11aug2014" />{{rp|3–6}} | ||
HP lost more than {{US$|long=no|30 billion}} in market capitalization during Apotheker's tenure, and on September 22, 2011, the HP Board of Directors fired him as chief executive and replaced him with fellow board member and former [[eBay]] chief [[Meg Whitman]],<ref>{{cite news|title=HP names Meg Whitman as CEO|url=http://www.marketwatch.com/story/h-p-names-meg-whitman-as-ceo-2011-09-22?reflink=MW_news_stmp|website=MarketWatch | last1=Crum | first1=Rex }}</ref> with [[Raymond J. Lane]] as executive chairman. Although Apotheker served barely ten months, he received over {{US$|long=no|13 million}} in compensation.<ref>{{cite news|url=https://www.news.com.au/finance/new-hewlett-packard-chief-meg-whitman-chief-gets-1-salary-ex-boss-leo-apotheker-gets-13m/news-story/67a33f3a943539e896c427189e5b679f|title=New Hewlett-Packard chief Meg Whitman gets {{US$|long=no|1}} salary, Leo Apotheker gets {{US$|long=no|13m}}|website=news.com.au|date=September 30, 2011|via=[[Agence France-Presse|AFP]]}}</ref> Weeks later, HP announced that a review had concluded their PC division was too integrated and critical to business operations, and the company reaffirmed their commitment to the Personal Systems Group.<ref>{{cite press release|date=October 27, 2011|title=HP to Keep PC Division|url=https://www8.hp.com/us/en/hp-news/press-release.html?id=1159141#.X36geS9h1VQ|access-date=October 7, 2020|publisher=Hewlett-Packard}}</ref> | HP lost more than {{US$|long=no|30 billion}} in market capitalization during Apotheker's tenure, and on September 22, 2011, the HP Board of Directors fired him as chief executive and replaced him with fellow board member and former [[eBay]] chief [[Meg Whitman]],<ref>{{cite news|title=HP names Meg Whitman as CEO|url=http://www.marketwatch.com/story/h-p-names-meg-whitman-as-ceo-2011-09-22?reflink=MW_news_stmp|website=MarketWatch | last1=Crum | first1=Rex }}</ref> with [[Raymond J. Lane]] as executive chairman. Although Apotheker served barely ten months, he received over {{US$|long=no|13 million}} in compensation.<ref>{{cite news|url=https://www.news.com.au/finance/new-hewlett-packard-chief-meg-whitman-chief-gets-1-salary-ex-boss-leo-apotheker-gets-13m/news-story/67a33f3a943539e896c427189e5b679f|title=New Hewlett-Packard chief Meg Whitman gets {{US$|long=no|1}} salary, Leo Apotheker gets {{US$|long=no|13m}}|website=news.com.au|date=September 30, 2011|via=[[Agence France-Presse|AFP]]}}</ref> Weeks later, HP announced that a review had concluded their PC division was too integrated and critical to business operations, and the company reaffirmed their commitment to the Personal Systems Group.<ref>{{cite press release|date=October 27, 2011|title=HP to Keep PC Division|url=https://www8.hp.com/us/en/hp-news/press-release.html?id=1159141#.X36geS9h1VQ|access-date=October 7, 2020|publisher=Hewlett-Packard}}</ref> | ||
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On March 21, 2012, HP said its printing and PC divisions would become one unit headed by Todd Bradley from the PC division, and printing chief Vyomesh Joshi left the company.<ref>{{cite news |url=http://www.newsobserver.com/2012/03/22/1949230/hp-to-combine-pc-printing-units.html |title=HP to combine PC, printing units |date=March 22, 2012 |access-date=March 22, 2012 |last=Bailey |first=Brandon |work=[[San Jose Mercury News]] |archive-url=https://web.archive.org/web/20120327013222/http://www.newsobserver.com/2012/03/22/1949230/hp-to-combine-pc-printing-units.html |archive-date=March 27, 2012 |url-status=dead }}</ref> | On March 21, 2012, HP said its printing and PC divisions would become one unit headed by Todd Bradley from the PC division, and printing chief Vyomesh Joshi left the company.<ref>{{cite news |url=http://www.newsobserver.com/2012/03/22/1949230/hp-to-combine-pc-printing-units.html |title=HP to combine PC, printing units |date=March 22, 2012 |access-date=March 22, 2012 |last=Bailey |first=Brandon |work=[[San Jose Mercury News]] |archive-url=https://web.archive.org/web/20120327013222/http://www.newsobserver.com/2012/03/22/1949230/hp-to-combine-pc-printing-units.html |archive-date=March 27, 2012 |url-status=dead }}</ref> | ||
On May 23, 2012, HP announced plans to lay off approximately 27,000 employees, after posting a profit decline of 31% in the second quarter of 2012.<ref>{{cite news|first=Poornima|last=Gupta|date=May 23, 2012|title=Analysts back Hewlett-Packard's layoff plans|work= | On May 23, 2012, HP announced plans to lay off approximately 27,000 employees, after posting a profit decline of 31% in the second quarter of 2012.<ref>{{cite news|first=Poornima|last=Gupta|date=May 23, 2012|title=Analysts back Hewlett-Packard's layoff plans|work=Reuters|url=https://www.reuters.com/article/us-hp-idUSBRE84M1DX20120524|access-date=October 7, 2020}}</ref> Profits declined because of the growing popularity of smart phones, tablets, and other mobile devices, which slowed down personal computer sales.<ref>{{cite web|title=HP announces 27,000 job cuts|url=http://timesofindia.indiatimes.com/tech/careers/job-trends/HP-announces-27000-job-cuts/articleshow/13435786.cms|work=The Times of India|url-status=dead|archive-url=https://web.archive.org/web/20120525055418/http://timesofindia.indiatimes.com/tech/careers/job-trends/HP-announces-27000-job-cuts/articleshow/13435786.cms|archive-date=May 25, 2012|access-date=March 30, 2018}}</ref> | ||
On May 30, 2012, HP unveiled its first [[Carbon neutrality|net zero]] energy data center, which used solar energy and other renewable sources instead of traditional power grids.<ref>{{cite news|url=http://economictimes.indiatimes.com/tech/ites/pc-maker-hp-unveils-its-first-net-zero-energy-data-centre/articleshow/13687250.cms |title=PC-maker HP unveils its first net-zero energy data centre |work=The Times of India |date=May 31, 2012}}</ref> | On May 30, 2012, HP unveiled its first [[Carbon neutrality|net zero]] energy data center, which used solar energy and other renewable sources instead of traditional power grids.<ref>{{cite news|url=http://economictimes.indiatimes.com/tech/ites/pc-maker-hp-unveils-its-first-net-zero-energy-data-centre/articleshow/13687250.cms |title=PC-maker HP unveils its first net-zero energy data centre |work=The Times of India |date=May 31, 2012}}</ref> | ||
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===2013–2015=== | ===2013–2015=== | ||
On December 31, 2013, HP revised the number of jobs cut from 29,000 to 34,000 up to October 2014. The number of jobs cut until the end of 2013 was 24,600.<ref>{{cite web|last=Moon|first=M.|title=HP woes continue as 5,000 more employees face the axe|url=https://www.engadget.com/2013/12/31/hp-lay-off-5000-employees/|access-date=December 31, 2013|website=engadget|date=December 31, 2013 }}</ref><ref>{{cite news|last1=Hardy |first1=Quentin |last2=Gelles |first2=David |title=Hewlett-Packard Is Said to Be Planning a Split of Businesses |url=https://www.nytimes.com/2014/10/06/technology/hewlett-packard-is-said-to-be-planning-a-reorganization.html |work= | On December 31, 2013, HP revised the number of jobs cut from 29,000 to 34,000 up to October 2014. The number of jobs cut until the end of 2013 was 24,600.<ref>{{cite web|last=Moon|first=M.|title=HP woes continue as 5,000 more employees face the axe|url=https://www.engadget.com/2013/12/31/hp-lay-off-5000-employees/|access-date=December 31, 2013|website=engadget|date=December 31, 2013 }}</ref><ref>{{cite news|last1=Hardy |first1=Quentin |last2=Gelles |first2=David |title=Hewlett-Packard Is Said to Be Planning a Split of Businesses |url=https://www.nytimes.com/2014/10/06/technology/hewlett-packard-is-said-to-be-planning-a-reorganization.html |work=The New York Times |date=October 5, 2014 |access-date=October 6, 2014}}</ref><ref>{{cite web|url=https://www.nbcbayarea.com/news/tech/HP-Confirms-Higher-Layoffs-Expected-238285781.html|title=HP Confirms Higher Layoffs Expected|date=December 31, 2013|website=NBC Bay Area}}</ref> At the end of 2013 the company had 317,500 employees. On May 22, 2014, HP announced it would cut a further 11,000 to 16,000 jobs, in addition to the 34,000 announced in 2013. Whitman said: "We are gradually shaping HP into a more nimble, lower-cost, more customer and partner-centric company that can successfully compete across a rapidly changing IT landscape."<ref name="HPjobs">{{cite news|title= Nearly 16,000 jobs are set to go at Hewlett-Packard |url=http://www.bignewsnetwork.com/index.php/sid/222273041/scat/c08dd24cec417021/ht/Nearly-16000-jobs-are-set-to-go-at-Hewlett-Packard |work=Big News Network |access-date=May 23, 2014}}</ref> | ||
{{Anchor|THE-MACHINE}} During the June 2014 HP Discover customer event in [[Las Vegas]], Whitman and Martin Fink announced a project for a radically new computer architecture called [[The Machine (computer architecture)|The Machine]]. Based on [[memristor]]s and [[silicon photonics]], it was supposed to come into commercialization before the end of the decade, and represented 75% of the research activity in HP Labs at the time.<ref>{{cite news|url=http://www.enterprisetech.com/2014/06/12/hp-puts-memristors-heart-new-machine/ |title=HP Puts Memristors At The Heart Of A New Machine |last=Morgan |first=Timothy Prickett |date=June 12, 2014 |work=EnterpriseTech |access-date=December 14, 2014}}</ref> | {{Anchor|THE-MACHINE}} During the June 2014 HP Discover customer event in [[Las Vegas]], Whitman and Martin Fink announced a project for a radically new computer architecture called [[The Machine (computer architecture)|The Machine]]. Based on [[memristor]]s and [[silicon photonics]], it was supposed to come into commercialization before the end of the decade, and represented 75% of the research activity in HP Labs at the time.<ref>{{cite news|url=http://www.enterprisetech.com/2014/06/12/hp-puts-memristors-heart-new-machine/ |title=HP Puts Memristors At The Heart Of A New Machine |last=Morgan |first=Timothy Prickett |date=June 12, 2014 |work=EnterpriseTech |access-date=December 14, 2014}}</ref> | ||
On October 6, 2014, HP announced it was going to split into two separate companies to separate its personal computer and printer businesses from its technology services. The split, which was first reported by '' | On October 6, 2014, HP announced it was going to split into two separate companies to separate its personal computer and printer businesses from its technology services. The split, which was first reported by ''The Wall Street Journal'' and confirmed by other media, resulted in two publicly traded companies on November 1, 2015: [[Hewlett Packard Enterprise]] and [[HP Inc.]] 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.<ref>{{cite news|last=Darrow |first=Barb |title=Bye-bye HP, it's the end of an era |url=http://fortune.com/2015/10/30/bye-bye-hp/ |work=Fortune Magazine |date=October 30, 2015}}</ref><ref>See company history section of HP Inc.'s information page at [https://www.nyse.com/quote/XNYS:HPQ/company the NYSE Web site]</ref> Whitman became chairman of HP Inc. and CEO of Hewlett Packard Enterprise, [[Patricia Russo]] became chairman of the enterprise business, and [[Dion Weisler]] became CEO of HP, Inc.<ref>{{cite news|last1=Koch |first1=Wendy |title=Hewlett-Packard plans to break into two |url=https://www.usatoday.com/story/money/business/2014/10/05/report-hewlett-packard-plans-to-break-into-two/16768635/ |work=USA Today |date=October 5, 2014 |access-date=October 6, 2014}}</ref><ref>{{cite web|title=Hewlett-Packard to Split Into Two Companies: Report |url=https://www.nbcnews.com/business/business-news/hewlett-packard-split-two-companies-report-n218926 |website=[[NBC News]] |date=October 6, 2014 |access-date=October 6, 2014}}</ref><ref>{{cite press release|title=HP To Separate Into Two New Industry-Leading Public Companies |url=http://www8.hp.com/us/en/hp-news/press-release.html?id=1809455 |publisher=Hewlett-Packard |location=[[Palo Alto, California]] |date=October 6, 2014 |access-date=October 6, 2014}}</ref> | ||
On October 29, 2014, Hewlett-Packard announced their new [[Sprout (computer)|Sprout]] personal computer.<ref>{{cite news|last=Baig |first=Edward C. |title=First Look: HP pushes into 3-D printing, Blended Reality |url=https://www.usatoday.com/story/tech/columnist/baig/2014/10/29/hp-sprout-3d-printing-first-look/18105925/ |work=USA Today |date=October 29, 2014}}</ref> | On October 29, 2014, Hewlett-Packard announced their new [[Sprout (computer)|Sprout]] personal computer.<ref>{{cite news|last=Baig |first=Edward C. |title=First Look: HP pushes into 3-D printing, Blended Reality |url=https://www.usatoday.com/story/tech/columnist/baig/2014/10/29/hp-sprout-3d-printing-first-look/18105925/ |work=USA Today |date=October 29, 2014}}</ref> | ||
In May 2015, the company announced it would be selling its controlling 51 percent stake in its [[China|Chinese]] data-networking business to [[Tsinghua Unigroup]] for a fee of at least {{US$|long=no|2.4 billion}}.<ref>{{cite news|first=Yimou|last=Lee|date=May 21, 2015|title=HP sells {{US$|long=no|2.3 billion}} China unit stake to forge partnership with Tsinghua Unigroup|work= | In May 2015, the company announced it would be selling its controlling 51 percent stake in its [[China|Chinese]] data-networking business to [[Tsinghua Unigroup]] for a fee of at least {{US$|long=no|2.4 billion}}.<ref>{{cite news|first=Yimou|last=Lee|date=May 21, 2015|title=HP sells {{US$|long=no|2.3 billion}} China unit stake to forge partnership with Tsinghua Unigroup|work=Reuters|url=https://www.reuters.com/article/us-hp-m-a-tsinghuaunigroup/hp-sells-2-3-billion-china-unit-stake-to-forge-partnership-with-tsinghua-unigroup-idUSKBN0O703V20150522|access-date=October 7, 2020}}</ref> | ||
==Facilities== | ==Facilities== | ||
[[File:Siege HP courtaboeuf.JPG|thumb|The research center of Hewlett-Packard in the [[Paris-Saclay]] [[Business cluster|cluster]], France]] | [[File:Siege HP courtaboeuf.JPG|thumb|The research center of Hewlett-Packard in the [[Paris-Saclay]] [[Business cluster|cluster]], France]] | ||
HP's global operations were directed from its headquarters in Palo Alto, California. Its US operations were directed from its facility in an [[unincorporated area]] of [[Harris County, Texas|Harris County]], Texas, near | HP's global operations were directed from its headquarters in Palo Alto, California. Its US operations were directed from its facility in an [[unincorporated area]] of [[Harris County, Texas|Harris County]], Texas, near Houston. Its Latin America offices were in unincorporated [[Miami-Dade County, Florida|Miami-Dade County]], Florida. Its European offices were in [[Meyrin]], close to Geneva, Switzerland,<ref name="Meyrinmap">"{{cite web|url=http://www.meyrin.ch/jahia/webdav/site/meyrin/shared/documents/informations%20utiles/Plan%20Commune%20Meyrin.pdf|title=Plan de commune|website=[[Meyrin]]|access-date=September 29, 2009|archive-url=https://web.archive.org/web/20110706235513/http://www.meyrin.ch/jahia/webdav/site/meyrin/shared/documents/informations%20utiles/Plan%20Commune%20Meyrin.pdf|archive-date=July 6, 2011}}</ref> but it also had a research center in the [[Paris-Saclay]] cluster 20 km south of [[Paris|Paris, France]]. Its Asia-Pacific offices were in [[Singapore]].<ref>{{cite web|url=http://welcome.hp.com/country/us/en/privacy.html#10 |title=HP Online privacy statement |website=Welcome.HP.com |access-date=July 7, 2011 |archive-url=https://web.archive.org/web/20100506075451/http://welcome.hp.com/country/us/en/privacy.html |archive-date=May 6, 2010}}</ref><ref>{{cite web|url=http://www.hp.com/country/us/en/contact/office_locs.html |title=HP Office locations |publisher=Hewlett-Packard |access-date=July 7, 2011 |archive-url=https://web.archive.org/web/20110609002810/http://www.hp.com/country/us/en/contact/office_locs.html |archive-date=June 9, 2011}}</ref><ref name="welcome.hp.com">{{cite web|title=HP Worldwide Sales and Services Directory|url=http://welcome.hp.com/country/us/en/Worldwide_Dir5.pdf|url-status=dead|archive-url=https://web.archive.org/web/20050129160007/http://welcome.hp.com/country/us/en/Worldwide_Dir5.pdf|archive-date=January 29, 2005|access-date=October 7, 2012|publisher=Welcome.hp.com}}</ref> | ||
HP had large operations in [[Leixlip]], Ireland;<ref name="ireland-hp">{{cite web|url=http://www8.hp.com/ie/en/contact-hp/office-locations.html|title=Contact HP - Office locations|website=HP Ireland|archive-url=https://web.archive.org/web/20140217021931/http://www8.hp.com/ie/en/contact-hp/office-locations.html|archive-date=February 17, 2014|url-status=dead}}</ref> [[Austin, Texas]]; [[Boise, Idaho]]; [[Corvallis, Oregon]]; [[Fort Collins, Colorado]]; [[Roseville, California]]; [[Saint Petersburg, Florida]]; [[San Diego, California]]; [[Tulsa, Oklahoma]]; [[Vancouver, Washington]]; [[Conway, Arkansas]]; and [[Plano, Texas]]. In the UK, HP was based at a large site in [[Bracknell, Berkshire]], with offices in various UK locations, including a landmark office tower in London, [[88 Wood Street]]. | HP had large operations in [[Leixlip]], Ireland;<ref name="ireland-hp">{{cite web|url=http://www8.hp.com/ie/en/contact-hp/office-locations.html|title=Contact HP - Office locations|website=HP Ireland|archive-url=https://web.archive.org/web/20140217021931/http://www8.hp.com/ie/en/contact-hp/office-locations.html|archive-date=February 17, 2014|url-status=dead}}</ref> [[Austin, Texas]]; [[Boise, Idaho]]; [[Corvallis, Oregon]]; [[Fort Collins, Colorado]]; [[Roseville, California]]; [[Saint Petersburg, Florida]]; [[San Diego, California]]; [[Tulsa, Oklahoma]]; [[Vancouver, Washington]]; [[Conway, Arkansas]]; and [[Plano, Texas]]. In the UK, HP was based at a large site in [[Bracknell, Berkshire]], with offices in various UK locations, including a landmark office tower in London, [[88 Wood Street]]. | ||
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{{Main|Hewlett-Packard spying scandal}} | {{Main|Hewlett-Packard spying scandal}} | ||
On September 5, 2006, Shawn Cabalfin and David O'Neil of ''[[Newsweek]]'' wrote that HP's [[general counsel]], at the behest of chairwoman [[Patricia C. Dunn|Patricia Dunn]], contracted a team of independent security experts to investigate board members and several journalists to identify the source of an information leak.<ref>{{cite news|author=David Kaplan|title=Suspicions and Spies in Silicon Valley|work=Newsweek Business|url=http://www.newsweek.com/id/45548/|url-status=dead|date=September 17, 2006|access-date=July 22, 2013|archive-url=https://archive.today/20120911000709/http://www.thedailybeast.com/newsweek/2006/09/17/suspicions-and-spies-in-silicon-valley.html|archive-date=September 11, 2012}}</ref> In turn, those security experts recruited private investigators who used [[pretexting]],<ref>{{cite web|last=Krazit |first=Tom |url=https://www.zdnet.com/article/faq-the-hp-pretexting-scandal/ |title=FAQ: The HP 'pretexting' scandal |website=ZDNet |date=September 6, 2006}}</ref> which involved investigators impersonating HP board members and nine journalists (including reporters for [[CNET]], '' | On September 5, 2006, Shawn Cabalfin and David O'Neil of ''[[Newsweek]]'' wrote that HP's [[general counsel]], at the behest of chairwoman [[Patricia C. Dunn|Patricia Dunn]], contracted a team of independent security experts to investigate board members and several journalists to identify the source of an information leak.<ref>{{cite news|author=David Kaplan|title=Suspicions and Spies in Silicon Valley|work=Newsweek Business|url=http://www.newsweek.com/id/45548/|url-status=dead|date=September 17, 2006|access-date=July 22, 2013|archive-url=https://archive.today/20120911000709/http://www.thedailybeast.com/newsweek/2006/09/17/suspicions-and-spies-in-silicon-valley.html|archive-date=September 11, 2012}}</ref> In turn, those security experts recruited private investigators who used [[pretexting]],<ref>{{cite web|last=Krazit |first=Tom |url=https://www.zdnet.com/article/faq-the-hp-pretexting-scandal/ |title=FAQ: The HP 'pretexting' scandal |website=ZDNet |date=September 6, 2006}}</ref> which involved investigators impersonating HP board members and nine journalists (including reporters for [[CNET]], ''The New York Times'' and ''The Wall Street Journal'') in order to obtain their phone records. The information leaked related to HP's long-term strategy and was published as part of a [[CNET]] article<ref>{{cite web|last=Kawamoto |first=Dawn |url=http://news.cnet.com/HP+outlines+long-term+strategy/2100-1014_3-6029519.html |title=HP outlines long-term strategy |CNET News.com |website=CNET |date=April 11, 2006 |access-date=July 7, 2011|archive-url=https://web.archive.org/web/20160506221318/http://www.cnet.com/news/hp-outlines-long-term-strategy/|archive-date=May 6, 2016}}</ref> in January 2006. Most HP employees accused of criminal acts have since been acquitted.<ref>{{cite web|last=Katz |first=Leslie |url=http://news.cnet.com/Calif.-court-drops-charges-against-Dunn/2100-1014_3-6167187.html |title=Calif. court drops charges against Dunn |website=CNET |date=March 31, 2007 |access-date=July 7, 2011}}</ref> | ||
===Hardware=== | ===Hardware=== | ||
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===Lawsuit against Oracle=== | ===Lawsuit against Oracle=== | ||
HP filed a lawsuit in California Superior Court in Santa Clara, claiming that Oracle had breached an agreement to support the [[Itanium]] microprocessor used in HP's high-end enterprise servers.<ref>{{cite web|first=Jack|last=Clark|website=[[ZDNet]]|url=https://www.zdnet.com/article/hp-unleashes-lawyers-on-oracle-over-itanium-support/|title=HP unleashes lawyers on Oracle over Itanium support|date=June 16, 2011|access-date=October 7, 2020}}</ref> On June 15, 2011, HP sent a "formal legal demand" letter to Oracle in an attempt to force them to reverse its decision to discontinue software development on Intel Itanium microprocessors<ref>{{cite news|first1=Poornima|last1=Gupta|first2=Dan|last2=Levine|work= | HP filed a lawsuit in California Superior Court in Santa Clara, claiming that Oracle had breached an agreement to support the [[Itanium]] microprocessor used in HP's high-end enterprise servers.<ref>{{cite web|first=Jack|last=Clark|website=[[ZDNet]]|url=https://www.zdnet.com/article/hp-unleashes-lawyers-on-oracle-over-itanium-support/|title=HP unleashes lawyers on Oracle over Itanium support|date=June 16, 2011|access-date=October 7, 2020}}</ref> On June 15, 2011, HP sent a "formal legal demand" letter to Oracle in an attempt to force them to reverse its decision to discontinue software development on Intel Itanium microprocessors<ref>{{cite news|first1=Poornima|last1=Gupta|first2=Dan|last2=Levine|work=Reuters|url=https://www.reuters.com/article/us-hp-oracle-lawsuit/hps-latest-lawsuit-heightens-rivalry-with-oracle-idUSTRE75E6VI20110615|title=HP's latest lawsuit heightens rivalry with Oracle|date=June 15, 2011|access-date=October 7, 2020}}</ref> and build its own servers.<ref name="businessinsider.com">{{Cite web|last=Bort|first=Julie|title=Hewlett Packard Enterprise just won $3 billion in a lawsuit against Oracle|url=http://www.businessinsider.com/hpe-wins-3-billion-from-oracle-2016-6|date=June 30, 2016|access-date=August 13, 2016|website=Business Insider}}</ref> HP won the lawsuit in 2012, which required Oracle to continue producing software compatible with the Itanium processor.<ref>{{cite news|last1=Gallagher|first1=Sean|title=HP wins judgment in Itanium suit against Oracle|url=https://arstechnica.com/information-technology/2012/08/hp-wins-judgement-in-itanium-suit-against-oracle/|access-date=July 1, 2016|work=Ars Technica|date=August 1, 2012}}</ref> HP was awarded $3 billion in damages against Oracle on June 30, 2016,<ref name="businessinsider.com" /><ref>{{cite news|last1=Bright|first1=Peter|title=HP awarded $3B in damages from Oracle over Itanium database cancelation|url=https://arstechnica.com/information-technology/2016/06/hp-awarded-3b-in-damages-from-oracle-over-itanium-database-cancellation/|access-date=July 1, 2016|work=Ars Technica|date=June 30, 2016}}</ref> arguing that Oracle canceling support damaged HP's Itanium server brand. Oracle said it would appeal both the decision and damages. | ||
=== HP wage and hour lawsuit === | === HP wage and hour lawsuit === | ||
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HP claimed that this resulted from "accounting improprieties, [[misrepresentation]]s and disclosure failures" by the previous management, who in turn accused HP of a "textbook example of [[gaming the system|defensive stalling]]"<ref name="hussainmotion11aug2014" />{{rp|6}} to conceal evidence of its own prior knowledge, gross [[management|mismanagement]], and undermining of the company, noting public awareness since 2009 of its financial reporting issues<ref name="hussainmotion11aug2014" />{{rp|3}} and that even HP's CFO disagreed with the price paid.<ref name="telegraph25nov2012" /><ref name="hussainmotion11aug2014" />{{rp|3–6}} External observers generally stated that only a small part of the write-off appears to be due to accounting mis-statements, and that HP had previously overpaid for businesses.<ref name="telegraph25nov2012" /><ref name="marketwatch19aug2014">[http://www.marketwatch.com/story/the-mysterious-case-of-hewlett-packards-autonomy-deal-2014-08-19 The mysterious case of Hewlett-Packard's Autonomy deal], ''[[Marketwatch]]'', August 19, 2014</ref> | HP claimed that this resulted from "accounting improprieties, [[misrepresentation]]s and disclosure failures" by the previous management, who in turn accused HP of a "textbook example of [[gaming the system|defensive stalling]]"<ref name="hussainmotion11aug2014" />{{rp|6}} to conceal evidence of its own prior knowledge, gross [[management|mismanagement]], and undermining of the company, noting public awareness since 2009 of its financial reporting issues<ref name="hussainmotion11aug2014" />{{rp|3}} and that even HP's CFO disagreed with the price paid.<ref name="telegraph25nov2012" /><ref name="hussainmotion11aug2014" />{{rp|3–6}} External observers generally stated that only a small part of the write-off appears to be due to accounting mis-statements, and that HP had previously overpaid for businesses.<ref name="telegraph25nov2012" /><ref name="marketwatch19aug2014">[http://www.marketwatch.com/story/the-mysterious-case-of-hewlett-packards-autonomy-deal-2014-08-19 The mysterious case of Hewlett-Packard's Autonomy deal], ''[[Marketwatch]]'', August 19, 2014</ref> | ||
The [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] (SFO) and the SEC joined the [[Federal Bureau of Investigation|FBI]] in investigating the potential anomalies. HP incurred damage with its stock falling to its lowest in decades.<ref name="rogers2012">{{Cite news|author=James Rogers |date=November 24, 2012 |title=HP's Autonomy Hassles |at=Tech |work=[[TheStreet]] |url=http://www.thestreet.com/story/11774534/1/hps-autonomy-hassles-tech-weekly-recap.html |access-date=January 22, 2013}}</ref><ref name="bbcstaff2012">{{cite news |date=November 21, 2012 |title=Autonomy misled HP about finances, Hewlett-Packard says |work=BBC News |url=https://www.bbc.co.uk/news/business-20412186 |access-date=January 22, 2013}}</ref><ref name="owens2012">{{Cite news|author=Jeremy C. Owens |date=November 23, 2012 |title=Investors go Black Friday shopping too, sending HP and other struggling tech stocks higher |newspaper=[[San Jose Mercury News]] |url=http://www.mercurynews.com/60-second-business-break/ci_22054748/biz-break-investors-go-black-friday-shopping-too |access-date=January 22, 2013}}</ref> Three lawsuits were brought by shareholders against HP for the fall in value of HP shares. In August 2014, a [[United States district court]] judge threw out a proposed settlement, which Autonomy's previous management had argued would be [[collusive lawsuit|collusive]] and intended to divert scrutiny of HP's own responsibility and knowledge. It essentially engaged the plaintiff's attorneys from the existing cases and redirected them against the previous Autonomy vendors and management for a fee of up to {{US$|long=no|48 million}}, with plaintiffs agreeing to end any claims against HP's management and similarly redirect those claims against the previous Autonomy vendors and management.<ref>{{cite news|date=August 25, 2014|title=U.S. judge casts doubt on HP-shareholder settlement in Autonomy lawsuit|work= | The [[Serious Fraud Office (United Kingdom)|Serious Fraud Office]] (SFO) and the SEC joined the [[Federal Bureau of Investigation|FBI]] in investigating the potential anomalies. HP incurred damage with its stock falling to its lowest in decades.<ref name="rogers2012">{{Cite news|author=James Rogers |date=November 24, 2012 |title=HP's Autonomy Hassles |at=Tech |work=[[TheStreet]] |url=http://www.thestreet.com/story/11774534/1/hps-autonomy-hassles-tech-weekly-recap.html |access-date=January 22, 2013}}</ref><ref name="bbcstaff2012">{{cite news |date=November 21, 2012 |title=Autonomy misled HP about finances, Hewlett-Packard says |work=BBC News |url=https://www.bbc.co.uk/news/business-20412186 |access-date=January 22, 2013}}</ref><ref name="owens2012">{{Cite news|author=Jeremy C. Owens |date=November 23, 2012 |title=Investors go Black Friday shopping too, sending HP and other struggling tech stocks higher |newspaper=[[San Jose Mercury News]] |url=http://www.mercurynews.com/60-second-business-break/ci_22054748/biz-break-investors-go-black-friday-shopping-too |access-date=January 22, 2013}}</ref> Three lawsuits were brought by shareholders against HP for the fall in value of HP shares. In August 2014, a [[United States district court]] judge threw out a proposed settlement, which Autonomy's previous management had argued would be [[collusive lawsuit|collusive]] and intended to divert scrutiny of HP's own responsibility and knowledge. It essentially engaged the plaintiff's attorneys from the existing cases and redirected them against the previous Autonomy vendors and management for a fee of up to {{US$|long=no|48 million}}, with plaintiffs agreeing to end any claims against HP's management and similarly redirect those claims against the previous Autonomy vendors and management.<ref>{{cite news|date=August 25, 2014|title=U.S. judge casts doubt on HP-shareholder settlement in Autonomy lawsuit|work=Reuters|url=https://www.reuters.com/article/hp-autonomy/u-s-judge-casts-doubt-on-hp-shareholder-settlement-in-autonomy-lawsuit-idUSL1N0QV15P20140825|access-date=October 7, 2020}}</ref><ref>{{cite web|date=August 25, 2014|title=US Judge Rejects Settlement Deal Reached In HP's Derivative Lawsuits|url=https://www.rttnews.com/2374756/us-judge-rejects-settlement-deal-reached-in-hp-s-derivative-lawsuits.aspx?type=bn|access-date=October 7, 2014|website=RTTNews}}</ref> In January 2015 the SFO closed its investigation as the likelihood of a successful prosecution was low.<ref>{{cite news|url=https://www.bbc.co.uk/news/business-30883288 |title=Autonomy HP sale investigation by Serious Fraud Office closes |work=BBC News |date=January 19, 2015}}</ref> The dispute continued in the US, and is being investigated by the UK and Ireland [[Financial Reporting Council]]. On June 9, 2015, HP agreed to pay {{US$|long=no|100 million}} to investors who bought HP shares between August 19, 2011 and November 20, 2012, to settle the lawsuits over the Autonomy purchase.<ref>{{Cite news|date=June 9, 2015 |title=Hewlett-Packard to Pay {{US$|long=no|100 Million}} to Settle Suit Over Autonomy Purchase |work=The New York Times |url=https://www.nytimes.com/2015/06/10/business/dealbook/hewlett-packard-to-pay-100-million-to-settle-suit-over-autonomy-purchase.html |access-date=June 9, 2015}}</ref> | ||
Another term of the shareholder settlement was to sue Autonomy management, which occurred in London in 2019. HP "failed to produce a smoking gun for the fraud it alleges",<ref name=":1">{{Cite web|last=Browning|first=Jonathan|url=https://www.bloomberg.com/news/articles/2020-03-05/hp-s-long-legal-war-over-a-10-billion-takeover-heads-to-a-close|title=A Long Legal War Over a $10 Billion Takeover Heads to a Close|website=Bloomberg|date=March 4, 2020|access-date=April 15, 2020}}</ref> and its accountants admitted that they "never formally prepared anything to attribute the irregularities to the amount of the fraud".<ref name=":1" /> | Another term of the shareholder settlement was to sue Autonomy management, which occurred in London in 2019. HP "failed to produce a smoking gun for the fraud it alleges",<ref name=":1">{{Cite web|last=Browning|first=Jonathan|url=https://www.bloomberg.com/news/articles/2020-03-05/hp-s-long-legal-war-over-a-10-billion-takeover-heads-to-a-close|title=A Long Legal War Over a $10 Billion Takeover Heads to a Close|website=Bloomberg|date=March 4, 2020|access-date=April 15, 2020}}</ref> and its accountants admitted that they "never formally prepared anything to attribute the irregularities to the amount of the fraud".<ref name=":1" /> | ||