HP Inc. (NYSE: HPQ), commonly known as HP, is an American multinational information technology company. Founded in a single-car garage in Palo Alto, California, by Bill Hewlett and Dave Packard in 1939, HP has grown to become a leading global provider of products, technologies, software, solutions, and services to individual consumers, small and medium-sized businesses, and large enterprises.
The company was initially known for producing a wide range of electronic devices, including oscillators, many of which were the first of their kind to be widely available. HP later became a popular name in the computer industry, with its first computer, the HP 2116A, being introduced in the mid-1960s. In the late 1980s, HP made a name for itself in the printing industry with the launch of the LaserJet printer, which became one of the company’s most successful lines.
In 2015, HP made a strategic move by splitting into two companies: HP Inc. and Hewlett Packard Enterprise (HPE). While HPE focuses on enterprise products and services, including servers, storage, networking, consulting, and support, HP Inc. retains the company's legacy personal systems and printing businesses and is home to iconic products including HP Pavilion, HP Spectre, and HP Envy lines of computers, as well as the DesignJet, OfficeJet, LaserJet, and PageWide printers.
The company’s mission is to engineer experiences that inspire its customers every day. This commitment extends beyond customers to the environment as well. HP Inc. aims to become the world’s most sustainable and just IT company. It has implemented notable eco-friendly practices in its operations, including using ocean-bound plastics in manufacturing and offering a cartridge recycling service.
Under the leadership of CEO Enrique Lores, HP Inc. continues to adapt its business models and operations to stay at the forefront of the information technology industry. Financially, it has been successful in generating solid cash flow and maintaining a healthy balance sheet. As of Q2 2021, the company reported net revenue of $15.9 billion, indicating a rise in demand for its personal systems and printing products amid remote learning and work trends due to the pandemic.
HP Inc. remains an innovative force in the technology sector, paving the way in terms of both hardware and software capabilities. With a reputation for quality, reliability, and a focus on environmental sustainability, the company continues to shape the future of technology and transformations in the industry.