Hewlett-Packard Looking to Ditch Businesses Not Meeting Goals
January 2, 2013 12:31 PM
comment(s) - last by
HP's filing said it may “dispose of a business at a price or on terms that are less desirable than we had anticipated”
Hewlett-Packard (HP) has been
in a tough spot
for some time now, and to hopefully improve that position a bit, the company recently said it's considering disposing of businesses that aren't meeting goals.
HP's December 10-K filing with the U.S. Securities and Exchange Commission stated that the company is currently evaluating "the potential disposition of assets and businesses" that are no longer helping them meet objectives.
“When we decide to sell assets or a business, we may encounter difficulty in finding buyers or alternative exit strategies on acceptable terms in a timely manner, which could delay the achievement of our strategic objectives,” said Hewlett-Packard.
The filing also said that HP may “dispose of a business at a price or on terms that are less desirable than we had anticipated” and “the impact of the divestiture on our revenue growth may be larger than projected."
HP has endured a bumpy ride over the past years, mainly due to former CEO Leo Apotheker. Back in August 2011, HP announced that it was
abandoning its webOS platform and TouchPad tablets
for good. It had acquired the webOS platform from Palm for $1.2 billion USD only a year previous.
That same month,
HP planned to
sell off its Personal Systems Group (PSG)
, which is responsible for consumer and business PCs.
Later, it was announced that HP was
leaning more toward a spin-off PC business
than a sale.
When current CEO Meg Whitman stepped up to the plate shortly after those baffling announcements, HP ended up not selling its PC unit or having a spin-off. Whitman
kept the PC business in-house
More recently, HP alleged that HP subsidiary
Autonomy's former owners committed approximately
$5B USD in accounting "improprieties"
, which they suggest amount to fraud.
In November 2012, it was reported that HP would
take an $
8.8 billion hit
due to "accounting improprieties."
This article is over a month old, voting and posting comments is disabled
RE: Worst company in the world
1/3/2013 4:26:16 AM
It depends on the product. I have an old convertible notebook/tablet (TX2000) from 2008 that has been an invaluable convenience with its wacom digitizer. Also, we got an HP dm1z notebook in 2011 that we use as an HTPC. Then there's the OfficeJet Pro 7600 and its successor the 8500 that handle all the network scanning/printing that the household requires.
It's important to manage expectations of a product. Admittedly, any of the above inexpensive consumer HP products would probably not last long in all-day everyday (business) use, but they work fine if they're only stressed occasionally.
"We’re Apple. We don’t wear suits. We don’t even own suits." -- Apple CEO Steve Jobs
HP Posts Horrific Guidance, Will Take $8.8B USD Hit on "Improprieties"
November 20, 2012, 9:27 AM
HP Swallows $8.9B USD Loss, But Analysts Praise Its Revamp Work
August 23, 2012, 3:33 PM
HP Reconsiders Jettisoning PC Unit
October 13, 2011, 12:32 PM
HP Leans Towards Spin-Off of PC Business, Rather Than Sale
August 30, 2011, 9:06 AM
Report: HP to Sell Off PC Unit
August 18, 2011, 4:55 PM
MSI's AMD Richland (A10)/Neptune (7/8xxxM) Gaming Notebooks Start at $1,299 USD
May 22, 2013, 3:15 PM
Apples Tries to Use Decade-Old Patents to Ban Samsung Galaxy S IV
May 22, 2013, 3:00 PM
Intel Shake-Up to Focus on Mobile, New Devices
May 22, 2013, 11:04 AM
Report: DISH CEO Makes Aggressive $2B USD Bid for LightSquared's Spectrum
May 20, 2013, 10:25 PM
Apple Releases Tim Cook's Testimony on Corporate Tax Laws
May 20, 2013, 7:40 PM
Apple's Tim Cook to Talk Profit Shifting, Taxes at U.S. Senate Hearing
May 20, 2013, 1:44 PM
Most Popular Articles
High School Student Creates Storage Device that Can Charge in 20 Seconds
May 20, 2013, 6:51 AM
Seawater Cooling Saves Data Center Big Bucks, Energy, Despite Jellyfish Issues
May 17, 2013, 3:23 PM
Newegg Legal Chief: "We don't Feed the Trolls"; Defeats Bell Lab Shell Comp.
May 17, 2013, 10:11 AM
Former Intel CEO Regrets Passing Up on iPhone Gravy Train
May 17, 2013, 11:46 AM
NASA Awards $125,000 Grant for 3D Printed Food on Long-Term Space Travels
May 21, 2013, 1:32 PM
Latest Blog Posts
Lumosity: Does it Work?
May 22, 2013, 8:20 PM
Quick Note: Sony "Teases" PS4 Ahead of Xbox Reveal in New Video
May 20, 2013, 12:33 PM
Nokia Introduces Instagram-Like App of Its Own to Help Lumia Sales
May 20, 2013, 7:10 AM
Parents of Pre-Teen Drivers Commonly Practice Distracted Driving Says Study
May 9, 2013, 7:16 AM
Apple's iOS 7 Running Into Internal Delays Due to Massive Overhaul
May 1, 2013, 4:26 PM
More Blog Posts
Copyright 2013 DailyTech LLC. -
Terms, Conditions & Privacy Information