HP is in trouble. In a bold move, CEO Meg Whitman revealed the extent to which HP is in trouble. Let's look at what got them to this point, what's currently wrong with HP, and what fast companies must do to avoid the challenges HP faces.
Only a month on the market, and the device that HP said would give Android and Apple a run for their money is already finished. Rumors were confirmed today that HP will discontinue its TouchPad tablet as well its WebOS phones. Reports indicate the company plans to instead focus on software and services, while distancing itself from hardware.
The histories of the Stanford School of Engineering (where I work) and HP are closely intertwined. Most famously, when Bill Hewlett and David Packard were young guys, they borrowed $500 from Fred Terman, then Dean of the school, to start the company.
Former SAP chief Leo Apotheker started his job as HP's new CEO last Monday--and already he's on the lam. Why? Oracle, which is in a $4 billion software theft suit against SAP, has hired private detectives to track down and subpoena Apotheker.