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Hewlett-Packard Company or HP is an American multinational information
technology corporation headquartered in Palo Alto, California, United States. It
provides hardware, software and services to consumers, small- and medium-sized
businesses (SMBs) and large enterprises, including customers in the government,
health and education sectors.
The company was founded in a one-car garage in
Palo Alto by William "Bill" Redington Hewlett and Dave Packard. HP is the
world's leading PC manufacturer and has been since 2007, fending off a challenge
by Chinese manufacturer Lenovo, according to Gartner.2 It specializes in
developing and manufacturing computing, data storage, and networking hardware,
designing software and delivering services. Major product lines include personal
computing devices, enterprise and industry standard servers, related storage
devices, networking products, software and a diverse range of printers and other
imaging products. HP markets its products to households, small- to medium-sized
businesses and enterprises directly as well as via online distribution,
consumer-electronics and office-supply retailers, software partners and major
technology vendors. HP also has strong services and consulting business around
its products and partner products. In 2012 it was the world's largest PC vendor
by unit sales.3
Major company events have included the spin-off of part of
its business as Agilent Technologies in 1999, its merger with Compaq in 2002,
the sponsor of Mission: Space in 2003, and the acquisition of EDS in 2008, which
led to combined revenues of $118.4 billion in 2008 and a Fortune 500 ranking of
9 in 2009. In November 2009, HP announced the acquisition of 3Com,4 with the
deal closing on April 12, 2010.5 On April 28, 2010, HP announced the buyout of
Palm, Inc. for $1.2 billion.6 On September 2, 2010, HP won its bidding war for
3PAR with a $33 a share offer ($2.07 billion), which Dell declined to match.7
As of January 2014, Hewlett-Packard's market capitalization stood at slightly
over $55 billion.8 Founded in 1939 in a Palo Alto garage with $538 in startup
money, HP is often referred to as the earliest ancestors of a Silicon Valley
startup.9 It is acknowledged to be one of the most successful startup companies
of all time by market cap, revenue, growth, and cultural impact.
Of the many
projects they worked on, their very first financially successful product was a
precision audio oscillator, the Model HP200A. Their innovation was the use of a
small incandescent light bulb (known as a "pilot light") as a temperature
dependent resistor in a critical portion of the circuit, the negative feedback
loop which stabilized the amplitude of the output sinusoidal waveform. This
allowed them to sell the Model 200A for $54.40 when competitors were selling
less stable oscillators for over $200. The Model 200 series of generators
continued until at least 1972 as the 200AB, still tube-based but improved in
design through the years.
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