Thomas Alsop
Research expert covering the global hardware industry
HP Inc. - statistics & facts
HP Inc. is one of the leading PC vendors globally, consistently occupying around 20 percent of the market alongside competitors like Lenovo and Dell. The American technology company was formed in November 2015 following the break-up of its predecessor, Hewlett-Packard Company. HP’s pedigree stretches back to 1935 when the parent company was founded in the garage of William Hewlett and David Packard. Initially producing a range of electronic test equipment, HP rose in the intervening years to become one of the leading manufacturers of personal computers worldwide and a global manufacturer of servers, storage devices, and networking equipment, as well as delivering a variety of IT services for both consumers and enterprises.
HP generated over 60 billion U.S. dollars in annual revenue in recent years
With HP Co's closure, HP inherited the personal computer and printer departments while enterprise software, servers, and storage went to the newly formed Hewlett Packard Enterprise (HPE). Both companies continue to generate multi-billion-dollar revenues, with HP earning revenues of 63 billion U.S. dollars in 2022 and employing 58,000 people globally in the process. The company also remains largely profitable, posting net earnings of 3.2 billion U.S. dollars in 2022, although this was a dramatic fall compared to the previous year as the tech industry navigated difficult macroeconomic conditions that have impacted the global economy.PCs serve as the core of HP’s business offering
The dominant segment of HP’s business remains personal systems, with the company riding the separation of the company without too much disruption to its market position. HP remains one of the major players in the global PC market, securing over 20 percent of the market in 2022. Looking more closely, the company shipped 55.3 million PCs in 2022, a decline of 25 percent compared to the previous year. This reflects the wider trend of reduced PC demand as buyers delay purchases due to economic uncertainty. Beyond PCs, HP also accounts for a sizeable proportion of the hardcopy peripherals market where it competes alongside brands such as Canon and Epson. Moving ahead, the company has highlighted continued investment in products and services as a key strategy in ensuring it emerges from the tough macro environment in a positive shape.
