History and Company Overview - HP Inc. was formed on November 1, 2015, as the legal successor of the original Hewlett-Packard. - It was created after the company's enterprise product and business services divisions were spun off as a new publicly traded company called Hewlett Packard Enterprise. - Hewlett-Packard was founded in 1939 by Bill Hewlett and David Packard in Palo Alto, California. - The company started in the HP Garage. - On November 1, 2015, Hewlett-Packard changed its name to HP Inc. and spun off Hewlett-Packard Enterprise as a separate company. - HP Inc. is an American multinational information technology company. - It is headquartered in Palo Alto, California. - The company develops personal computers (PCs), printers, and related supplies. - HP Inc. also offers 3D printing solutions. - HP Inc. is listed on the New York Stock Exchange and is a constituent of the S&P 500 Index.
Acquisitions and Partnerships - In May 2016, HP introduced a new PC gaming sub-brand called Omen. - In November 2017, HP acquired Samsung Electronics' printer division for $1.05 billion. - In February 2021, HP announced the acquisition of Kingston's gaming division HyperX for $425 million. - In February 2022, HP acquired the packaging development company Choose Packaging. - In March 2022, HP announced the acquisition of communications software and hardware provider Poly Inc.
Attempted Merger with Xerox - In November 2019, Xerox contemplated acquiring HP. - HP rejected two unsolicited offers from Xerox. - Xerox raised its bid to $24 per share in February 2020. - HP instituted a shareholder rights plan to fend off Xerox's pursuit of a hostile takeover. - In March 2020, Xerox rescinded its bid to buy HP Inc.
Products and Operations - HP develops personal computers (PCs), printers, and related supplies. - In fiscal year 2022, HP's total revenue was $63 billion. - Over 65% of HP's revenue in 2022 came from customers outside of the United States. - In March 2015, HP announced a partnership with Bang & Olufsen for premium audio. - HP's revenue breakdown includes sales from notebook computers, desktop computers, printer supplies, commercial printers, and consumer printers.
Carbon Footprint and Sustainability - HP reported Total CO2 emissions (Direct + Indirect) for the twelve months ending December 31, 2020, at 254 Kt (−34 /-11.8% y-o-y). - HP plans to reduce emissions by 60% by 2025 from a 2015 base year. - The target is aligned with the Paris Agreement to limit global warming to 1.5°C above pre-industrial levels. - HP aims to achieve net zero greenhouse gas emissions across its value chain by 2040. - The company's Supplies business aims to achieve carbon neutrality by 2030.