HP's net revenue in 2009 was $115 billion, with approximately $40 billion coming from services. In 2006, the intense competition between HP and IBM tipped in HP's favour, with HP boasting revenue of US$91.7 billion (HP, 2006) compared to $91.4 billion for ; the gap between the companies increased to $21 billion in 2009. In 2007, HP's revenue was $104 billion, making HP the first IT Company in history to report revenues exceeding $100 billion (Scandell, 2007). In 2008 HP retained its global leadership position (#1) in inkjet, laser, large format and multi-function printers market, and its leadership position in the hardware industry (Verberne, 2010).
However, over the years, there have been some major company changes, which include a of part of its business as in 1999, its with in 2002, and the acquisition of in 2008, which led to combined revenues of $118.4 billion in 2008 and a ranking of 10 in 2010 (HP Fast Facts, 2010). In November 2009, HP announced the acquisition of (this increased HP’s number of employees to approximately 304,000); with the deal closing on April 12, 2010 (HP News Release, 2010). On April 28, 2010, HP announced the buyout of for $1.2 billion. On July 1, 2010, the acquisition of Palm was final. On September 2, 2010 won its for with a $33 a share offer ($2.07 billion) which failed to match.
On August 6, 2010 CEO resigned (Guglielmo et al., 2010) and Cathie Lesjak assumed the role interim CEO, and on September 30, 2010, Léo Apotheker became HP's new permanent CEO and Ray Lane, Managing Partner at Kleiner Perkins Caufield & Byers, was elected to the position of non-executive Chairman. Both appointments are effective November 1, 2010 (HP, 2010).
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Guglielmo, C. King, I. and Ricadela, A. (2010). HP Chief Executive Hurd Resigns After Sexual-Harassment Probe [Online] Available: [11 October 2010]
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