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DennisN
2011 Aug 24, 4:43am
It would be interesting if HP was to get bought out by a bigger company. If they didn't adopt the HP name, then Agilent would feel free to rebrand itself once again as Hewlett-Packard.
HP is doing precisely what IBM did when they sold off their PC division. Same with Nokia moving away from Symbian. Its not a coincidence we are seeing not only consolidation in tech but more of a back to basics model as we shift into a new era of mobile tech.
HP is basically they have 0 confidence in the consumer market for the next decade and are looking to support business infrastructure which IMHO is a wise move on their part to cut their losses now. There is almost no profit for them in PCs anymore, let the kiddies like Acer and Dell fight that battle.
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They are down about 44% year to date. A simple glance at activity over the past decade shows they have been on a binge buying out plenty of companies. They bought out compaq which bought out digital. They bought out palm which also bought out be.
The shocking thing is they announced they are not just discontinuing the phones (Pre's) but also the tablet...that just came out seven weeks ago (they just dropped the price from $500 to $400). I'm no consultant but I know a fair amount of the history of various products going back a few decades and I can't think of any major company that has discontinued a product after seven weeks.
HP has 300K employees world wide. Just a few months ago they stated they would expand in the bay area
http://www.hp.com/hpinfo/newsroom/press/2011/110406a.html
I have never see a company outright quit so easily. Microsoft usually has dates when support is discontinued. Linux has distributions for when support will end...but to go seven weeks a a product that is supposed to compete is pretty sad.
Many of you are from the Bay Area. What have you heard about HP lately?