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HPHewlett-Packard Company (NYSE:HPQ)
While Hewlett-Packard may be known for product innovation, the company's corporate development is a tale of reinvention. HP provides enterprise and consumer customers a full range of high-tech equipment, including personal computers, servers, storage devices, printers, and networking equipment. Its software portfolio includes operating systems, print management tools, and OpenView, a suite that encompasses application, business, network infrastructure, and product lifecycle management. HP also boasts an IT service organization that is among the world's largest.
HP timeline — 1990s
The 90s
HP is one of the few companies in the world to successfully marry the technologies of measurement, computing and communication. The company makes new advances in portable computing, enters the home-computing market and continues to invent new printing and imaging solutions. For most of the decade, HP enjoys growth rates of 20 percent.
Early in the 90s, John Young retires and is replaced by Lew Platt, under whose leadership HP continues to grow. HP becomes recognized as a company whose policies on work-life balance, diversity and community involvement help attract and retain top employees.
At the end of the decade, HP spins off its measurement and components businesses to form a new company, Agilent Technologies. It also brings on board a new CEO, Carleton (Carly) Fiorina, who focuses the company on reinventing itself for growth and leadership in the 21st century.
Compaq acquires Tandem Computers and Digital Equipment Corporation.
1990
HP revenue: $13.2 billion. HP employees: 92,000.
1991
HP makes advances in lightweight portable computing with the introduction of the HP 95LX palmtop PC, HP's first palmtop personal computer. Weighing only 11 ounces, the HP 95 LX is roughly the size of a large pocket calculator but possesses as much computing power as a desktop personal computer system. It has a financial calculator, a telephone and address program, Lotus 1-2-3, a simple text editor and an infrared link for transferring data.
HP introduces the color DeskJet 500C, which creates a revolution in color printing. Up to this point color printers have been expensive, specialized machines. But the DeskJet gives customers an inexpensive color-printing option and the model is a huge success.
Eckhard Pfeiffer replaces Rod Canion as president and CEO of Compaq.
HP initiates its recycling program for its HP LaserJet print cartridges.
HP revenue: $14.5 billion. HP employees: 89,000.
1992
John Young retires; Lew Platt, an engineer and head of the Computer Systems Organization, is elected president and CEO and a member of the board of directors. Platt, an HP employee since 1966, wins kudos inside and outside the company for championing diversity in the workplace, establishing a balance between work and personal life for employees and directing HP to become a leader in community involvement.
HP introduces the HP Corporate Business Systems—nine HP 3000 and HP 9000 computing systems with mainframe performance at up to 90 percent lower cost.
Design for Environment guidelines developed with the goal of making products more environmental sound.
Energy Star labels created for printers.
HP revenue: $16.4 billion. HP employees: 92,600.
1993
HP introduces the 3-pound HP OmniBook 300, a "superportable" personal computer with enough battery power to last during a flight across the United States.
The company ships its 10 millionth HP LaserJet printer.
Dave Packard retires as chairman of the board of directors. Lew Platt is elected chairman of the board.
Compaq introduces its first all-in-one Compaq PC, the Presario family.
HP revenue: $20 billion. HP employees: 96,000.
1994
HP produces the world's brightest LED (light-emitting diode). Combining bright output, reliability and low power consumption, LEDs replace incandescent lamps in many new applications. HP LEDs expand the range of LED applications in cars, traffic-control signals and moving-message panels.
HP begins collaboration with Intel to develop a common 64-bit microprocessor architecture for the computers of the 21st century. The work draws on years of research at HP Labs to create a replacement for PA-RISC processors. Known then as IA-64, the new processor (now called Itanium) debuts in 2001.
HP introduces the HP OfficeJet personal printer-fax-copier, a space-saving product designed specifically for professional home-office users.
Telecommuting policies are formalized, making HP one of the first companies to encourage telecommuting around the world. Employees can work at home or at remote HP offices. The result is rising job satisfaction, reduced commute time, increased flexibility to coordinate personal and work schedules, and lower levels of stress. HP benefits from reduced office-space requirements and improved employee retention.
HP revenue: $25 billion. HP employees: 98,400.
1995
The HP Pavilion PC marks the company's highly successful introduction into the home-computing market.
Dave Packard publishes The HP Way, a book that chronicles the rise of HP and gives insight into the business practices, culture and management style that helped make it a success.
HP revenue: $31.5 billion. HP employees: 105,200.
1996
Co-founder Dave Packard dies on March 26.
HP recycles its 10 millionth LaserJet cartridge.
HP revenue: $38.4 billion. HP employees: 112,000.
1997
HP becomes one of the 30 stocks that comprise the Dow Jones Industrial Average (DJIA).
Compaq acquires Cupertino, California-based Tandem Computer Incorporated, known for its high-performance, fault-tolerant Himalaya servers and related software and services. Acquiring Tandem expands Compaq's influence deeper into high-end business computing.
HP recycling program expands to include HP inkjet print cartridges.
HP LaserJet with Blue Angel certification introduced.
HP revenue: $43 billion. HP employees: 121,900.
1998
HP introduces its first Jornada PDA (personal digital assistant). The Jornada 820 Palmtop PC runs Windows CE as its operating system.
Compaq acquires Digital Equipment Corporation for $9.6 billion—at the time the largest acquisition in computer industry history.
HP revenue: $47.1 billion. HP employees: 124,600.
1999
HP's board of directors announces its decision to spin off a new company from the existing HP organization. Agilent Technologies consists of HP's former measurement, components, chemical analysis and medical businesses. HP retains its computing, printing and imaging businesses. Agilent has its initial public offering of common stock on November 18, 1999. HP retains 84.1 percent of common stock. It is Silicon Valley's largest-ever IPO.
In July, Lew Platt retires, and HP names Carleton (Carly) S. Fiorina as President and CEO.
The first pocket-size Jornada, the 420, is introduced. This is the first Windows CE pocket-size PC with a color screen.
In November, HP begins a new brand campaign based on a single concept: invent. Print and television ads focus on the company's history of invention and innovation. The company also introduces a new logo.
HP recycles its 30 millionth LaserJet cartridge.
HP revenue: $42 billion. HP employees: 84,400.
The 21st century
At the beginning of the 21st century, HP focuses on simplifying technology experiences for all of its customers, from individual consumers to the largest businesses. With a portfolio that spans printing, personal computing and IT infrastructure, HP grows to become one of the world's largest IT companies.
On May 3, 2002, HP completes its merger transaction with Compaq Computer Corp.,. The new HP is a leading global provider of products, technologies, solutions and services to consumers and business. The company's offerings span IT infrastructure, personal computing and access devices, global services, and imaging and printing.
2000
HP moves up the Fortune 500 listing to No. 13.
In April, Compaq unveils the iPAQ Pocket PC.
On June 2, HP completes divestiture of Agilent Technologies. As a result of the distribution of shares of Agilent Technologies common stock, Agilent Technologies is now a fully independent company.
Carly Fiorina is named chairman of the board of directors on September 22.
HP introduces the high-end Superdome server line in September.
HP revenue: $48.8 billion. HP employees: 85,500.
2001
Co-founder Bill Hewlett dies on January 12.
HP creates a new business organization, HP Services, in March. The role of the new organization includes consulting, outsourcing, support, education and solutions deployment.
In May, HP introduces systems and services based on the new Itanium processor jointly developed by HP and Intel. Developed as an extremely parallel high-performance architecture, Itanium is the platform for next-generation 64-bit computing.
On September 4, HP and Compaq announce a definitive merger agreement to create global technology leader.
Also in September, HP announces that they will acquire Indigo, a leading commercial and industrial printing systems company, accelerating HP's plans to transform and lead the rapidly evolving digital publishing market.
HP revenue: 45.2 billion. HP employees: 88,000.
2002
On May 3, HP and Compaq officially merge, beginning operations as one unified company. The new HP serves more than one billion customers across 162 countries, and is a leading global provider of products, technologies, solutions and services to consumers and businesses. The company’s offerings span IT infrastructure, personal computing and access devices, global services and imaging and printing.
In June, HP announces its largest consumer product rollout to date. By early 2003, HP releases more than 50 new imaging and printing products. Three new color inkjet printers are part of the initial rollout, including the HP Deskjet 5550, which features up to six-ink printing and 4,800-optimized dots-per-inch (dpi) technology. The new products surpass both the photo quality and fade resistance—up to 73 years, more than twice as long as most traditional prints—of traditionally processed photographs.
In October, HP announces a new consumer technology category: the HP Media Center PC, a PC-based entertainment center for the home, With the HP Media Center, users can watch TV or DVDs, listen to music and share and manage digital photos, as well as perform all of the tasks a PC is usually used for.
In November, HP introduces its first table PC, the Compaq Tablet PC TC1000. Wireless-enabled and highly portable, the tablet PC combines the power of digital ink with a full-function PC.
HP announces breakthroughs in molecular electronics, continuing its groundbreaking efforts in the emerging field of nanotechnology. Its work in this field has netted four key patents (issued to HP and UCLA).
HP revenue: 56.6 billion. HP employees: 141,000.
2003
In March, HP announces a "smart" cooling solution to reduce energy use in data centers. The solution is part of the HP Utility Data Center, which enables dynamic reallocation of resources throughout a data center.
As HP approaches the one year anniversary of the merger, it secures three major managed services deals in the telecommunications, manufacturing and financial services industries, reflecting its value proposition of high tech, low cost and the best total customer experience.
In May, HP unveils its Adaptive Enterprise strategy to help businesses manage change and get more from their IT investments. The company unveils new services, software, solutions and an enterprise reference architecture designed to help companies measure, architect and manage change by creating a tighter linkage between business and IT.
In August, HP announces a strategy to radically simplify technology to help people "enjoy more" - a move that extends HP's leadership in imaging, printing and home computing into the fast-growing digital photography and entertainment markets. As part of the strategy, HP unveils more than 100 consumer products – its largest consumer product rollout to date.
Included in the rollout are the world's first eight-ink consumer photo printer, the HP Photosmart 7960, and the HP DVD Movie Writer dc3000 - the first of its kind in the industry - which can turn VHS tapes into long-lasting DVDs and preserve precious video memories for future generations.
In September, HP announces a worldwide initiative for the small and medium-sized business (SMB) market, one of the fastest-growing and most important segments in the global economy. The Smart Office Initiative provides tailored support services, local expertise, and products to help SMBs manage their unique business needs. As part of the launch, HP announces more than 100 different products, solutions and services.
2004
Fortune 500 ranking: 11
In January, HP announces its digital entertainment strategy: an array of products and partnerships aimed attransforming the way people experience music, movie, TV, photographs and digital entertainment content.
In February, HP dual lists its common stock on the NASDAQ stock market.
In April, HP wins the Corporate Innovation Award from the Institute of Electrical and Electronic Engineers (IEEE) for the development and commercialization of thermal inkjet technology.
In August, new digital entertainment products are rolled out, including Vivera inks, plasma and LCD flat-panel TVs, and the HP Digital Entertainment Center, which allows consumers to manage music, movies and photos from a single device in a living room setting.
2005
HP Chairman and CEO Carly Fiorina steps down in February. In March, HP names Mark Hurd to serve as CEO and president.
In April, HP acquires online photo service Snapfish.
HP ships its 10 millionth HP ProLiant server in June. HP shipped its first x86 processor-based ProLiant servers in 1993.
In July, HP announces a breakthrough, ink-based printing platform. The inkjet printhead is fabricated as one unit via a photolithographic process, rather than welded together in post-production. HP also unveils the world's fastest home photo printing devices.
HP also unveils the world's fastest home and office photo printing devices, built on this new technology: the HP Photosmart 8250 Photo Printer and the HP Officejet Pro K550 Color Printer series. New HP Vivera inks and HP Advanced Papers allow instantly dry, water and smear resistant photos.
HP acquires Scitex Vision, a market leader in wide and super-wide format printers for signage and industrial applications such as billboards, banners, street advertising and packaging.
In November, HP establishes a research lab in China.
In December, HP disrupts the traditional video conferencing market by introducing the HP Halo Collaboration Studio. A precisely designed broadcast studio, Halo enables remote teams to work together in a setting so life-like that participants feel as though they are in the same room.
Also in December, HP completes its restoration of the property where the company was founded - the HP garage. The project turned the clock back on the original house, shed and garage at 367 Addison Avenue, Palo Alto, to conditions much as they were in 1939, when the founders established the now legendary Hewlett-Packard partnership. Completion of the project was celebrated with a ribbon-cutting on December 6.
2006
In September, CEO and President Mark Hurd is named Chairman of the Board.
Also in September, HP ships its 100 millionth LaserJet printer. HP shipped its first LaserJet printer in 1984.
In October HP acquires VoodooPC, a high-end gaming PC provider.
HP acquires Mercury Interactive Corp. in November, the largest software acquisition in HP's history, to create a new organization for business technology optimization (BTO).
HP revenue: $91.6 billion. HP employees: 156,000.
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