HP Incorporation Overview
Recognized as the foundation of Silicon Valley, Hp Incorporation, is a North American multinational corporation with its headquarters based in Palo Alto, California, United States. The company deals with the manufacturing of computer components, including both hardware and software, as well as availing the public of information technology services and consulting. Founded in the year 1939, Hp Incorporation is a global colossus in the IT industry as well as an industry with computer-related products and components. The company’s business segments include (1) Personal Systems which covers products and services like personal computers, desktops, notebooks, tablets, consoles, computer accessories, IT services, electronic devices for commercial use, as well as other software and hardware computer-related components, (2) Printing services which include, printing devices and software solutions, scanners and other related printing gadgets for personal and commercial, (3) Corporate Investment which include incubation projects, HP Labs, et cetera. The company since its inception has gone through several evolutions and transition stages and has been ranked and appeared multiple times on the list of top-ranking agencies like Forbes and Fortune. As a matter of fact, Hp Incorporation is ranked in the 123rd position on the 2022 Fortune 500 list, an indication that the company is one of the largest corporations in the united states based on revenue generation. Additionally, the company is also recognized as one of the most valuable brands in the world. In this article, however, you will be shown a more detailed, comprehensive, and extensive review of Hp Inc., The kickoff will begin with the company’s key facts and it will flow to all aspects of its operations, and dealings. As such, all relevant information detailing its key facts, historical background, its divisions, its financial overview, as well as its pros and cons will be concisely covered to enable you to understand the significant and major elements of the global economic and banking corporation as quickly as possible.
Hp Inc. Key Facts
Founding Year: Hp Inc., the earliest history was traced back to 1939, approximately 83 years ago
Industrial Ranking: Hp Inc., is proud to be ranked #101 on the Forbes list of the world’s best employers Additionally, the corporation equally ranks #123rd on the 2022 Fortune 500, indicating the company as one of the largest corporations with higher revenue in the United States.
Company Type: A Public Corporation Company (PLC)
Market Reach: Hp Inc., operates globally and has its offices mounted strategically in several countries across the world.
Industry Type: Computers, Semiconductors, IT services, Electronics
Trading Type: Hp Inc., is traded on the New York Stock Exchange (NYSE) market under the ticker symbol, HPQ
Workforce Strength: Hp Inc has a total number of 53, 000 employees in its workforce globally as of the 2022 report from Forbes.
Hp Incorporation Historical Background
The earliest history of Hewlett-Packard popularly known as the Hp company began in a single-car garage located in Palo Alto California when Bill Hewlett & David Packard decided to professionally dive into the world of the computer and IT business. The dream to establish the company was, however, fueled by a fellowship program they had during Great Depression with a professor at Stanford named Fredrick Terman. In the year 1939, the two entrepreneurs opened for business officially and launched their first product with the name HP 200A -an audio oscillator.
In the year 1942, Hp Inc. launched its first building located at Page Mill Road, No. 395. In the following year, 1943, the company received an Army-Navy E Award. In the year 1947, Packard was appointed as the company’s president.
In the year the 1970s, Hp Inc., launched a variety of cutting-edge and first industry products such as the first electronic calculator, the first graphing & symbolic calculator, the first programmable, and alphanumeric devices, et cetera. For example, in 1972, Hp Inc., emerges as the first company to launch an electronic scientific calculator which can be held by hand. The product was tagged with the name, HP-35.
In the year 1984, Hp Inc., extended into the African market, using South Africa as a starting point. During that period, the company recorded a whopping &6.5 Billion USD as sales revenue. In the same year 1984, Hp Inc. launched three of its widely used products up to now, Laser Printers and Injet, as well as scanner devices.
In the year 1997, Hp Inc. dived into the Iran market by selling off its goods via a Dubai-based distributor and as well as an European division.
In the year 1999, Agilent Technologies was birthed by a spin-off of the company’s non-related products and services. Agilent Technology made an IPO which was recorded as one of the largest IPOs in Silicon Valley.
In the year 2022, May, Hp Inc., was merged with Compaq, and the merger pushed HP into becoming one of the largest suppliers and producers of computers and printing devices, with services spanning a wide range of markets across the world.
In the year 2004, Hp Inc., dived into manufacturing products in series and the marketing strategy worked a great deal for the company as its sales increased exponentially.
In the year 2009, November, Hp Inc., took a giant stride into an encompassing market by showing its intention to purchase 3Com for a total sum of 2.7 Billion. The acquisition led to the viral outburst of the company’s operations making it become one of the largest manufacturers and suppliers of computer devices in the world.
The year 2011 was however one of the bad years of the company as it loses a whopping 30 Billion USD under the leadership of Apotheker. He was however replaced by the Board of Directors with a fellow board member known as Meg Whitman.
In the year 2012, due to the increasing and growing markets of mobile devices and smartphones, the personal computer market niche of the company was affected, making it witness a net income decline of 31%, Hp Inc., thus announces its intention to retrench up to 27, 000 of its workforce.
In the year 2015, Hp Inc., sold off its stake in Chinese data networking venture amounting to a total sum of 2.4 Billion market value to Tsinghua Unigroup.
Hp Divisions
Intelligent Edge HPC & MCS Compute
Services Hewlett
Packard Labs
Storage Financial
Hp Labs
Hp Inc., Product Offerings
Printers
Digital Press
Personal Computers
3D Printers
Scanners
Photocopiers
Monitors
Desktops
Hp Inc., Financial Overview
Revenue: 55 Billion USD (Forbes 2022)
Total Assets: 38.9 Billion USD (Forbes 2022)
Net Income (Profit): 6.5 Billion USD (Forbes 2022)
Total Equity: 1.65 Billion USD (2021)
Operating Income: 5.30 Billion USD (2021)
Pros & Cons of HP Incorporation
According to reviews by employees on Indeed.com, including an objective review of the company, below are the outlined pros and cons of Hp Incorporation,
Adequate Industrial Experience: Hp Incorporation, was founded in the year 1939, apparently, the company has been in existence for more than 83 years. Thus, due to this broad year of accumulated industry experience, Hp Incorporation prides itself as a company with a saturated level of industrial and global expertise.
Great Place to Work for Employees: According to a research-based fact, HP was ranked on the 2022 Forbes lists of World Best Employers and Best Employers for Women, ranking #101 and #205 on both lists respectively.
Variety of Brands and Products: Having a vast and comprehensive list of brands as well as products in its archive, the vast brand nature of Hp Incorporation, is literally one of the pros of the company as it avails customers a pool of brands and products to choose from based on their individual needs.
Sustainability Development Commitment: Committed to the service of humanity, Hp Incorporation, support and fosters environmental and innovative program in its communities so as to fulfil its corporate social responsibility as a firm.
Values Diversity: Employees also commented positively on Hp Incorporation, a policy that it values diversity and cultural differences.
Staff Welfarism: Employee welfarism is another merit of Hp Incorporation, as it strives to provide perks like insurance, health, and hazard allowances for its staff.
Cons
High-Cost Products
Battery Problems
Relatively Slow Career Progression for Employees
Relatively Low Remuneration
Workplace Politics
Sever culture classes
Conclusion
Hp Incorporation has been in the industry for quite a long time and its root could be traced to the company’s founding year in 1939 which is approximately 83 years ago. However, despite that, the corporation leverages its several acquisitions and corporation experience to increase its growth exponentially from its inception in that one-car garage location hitherto this day. The secret to this is, not quite far-fetched, it is, however, the company’s commitment to exceptional and innovative service offerings while helping customers and employees derive value in their respective pursuits. Finally, with all being said in the foregoing sections of this piece, I hope your expectation, as promised in the introductory part of this piece has been met, and that you have adequately absorbed all there is to know about this ever-expanding company, Hp Incorporation, and that the knowledge you gain from this piece would help navigate your decision in the right direction
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