HP is breaking up. After 75 years, one of the giants of the technology landscape is slowly fracturing, set to become two smaller companies each focused on its own market - one enterprise software, services and infrastructure, the other hardware.
There is something sad about all this. A former giant and market-leading company has ended up in a position where it sees that its best bet for the future is to reduce in stature, to diminish itself and creep along in the middle-market.
The company didn't portray it like this, of course, instead claiming it would make it nimble and better placed to react to market trends - something most agree it has been slow to do over the past few years. HP has been its own worst enemy during this time.
I’ve been covering HP for five years now and have followed the company through numerous upheavals, from short-lived CEOs (whose ideas weren’t so bad it turns out) to long-running and bitter legal battles with its own acquisitions.
HP just can’t avoid drama and I have little hesitation in declaring that the split of HP into HP Inc and Hewlett-Packard Enterprise will be dogged by delays, dilemmas and, yes, more dramas.
Of the two it seems the HP Inc side of the business, with its focus on PCs and printers, will probably face its bigger share of drama. However, the move by HP's management to shed itself of hardware is not surprising.
HP has been moving towards software and services for many years, another move pushed forward by former CEO Léo Apotheker who now appears to be some sort of forward-thinking visionary.
The reason he wanted to shove the PC unit out the door is the same reason saviour-in-chief Meg Whitman does - the long-term future is highly unpredictable.
The commoditised nature of PCs and laptops means that, aside from Apple, few vendors are really able to make much money from hardware sales as people just don't want to pay that much for devices that cannot compete with smartphones and tablets for sex appeal.
This was why IBM booted its ThinkPad line-up out the door - a smart move taken way before most in the industry - and why Sony and Samsung are also turning their backs on the laptop market.
It is true that HP Inc, as a standalone business unit, may be better placed to react more flexibly to market trends - wearables perhaps - but they will also suffer from reduced economies of scale, marketing spend and channel profile.
Furthermore, the company will find itself in the unfamiliar position of being a smaller company in the market and perhaps a tasty looking takeover proposition for a bigger firm, either current rival Lenovo or the newly private Dell.
There are some positive signs, though, as the PC market is experiencing something of a rebound. The end of Windows XP has boosted sales, and HP actually posted a profit last quarter thanks in part to its PC business.
IDC noted this week that sales had declined by less than analysts had expected - good news in the PC space these days - and HP claimed second place in this falling market.
Whitman also mentioned on the financial call last quarter that, despite the boost from XP, this benefit will come to an end.
The launch of Windows 10 could be seen as another potential saviour for HP, and others, as it looks as if Microsoft is back on track after the disaster that was, and remains, Windows 8.
HP Inc will no doubt be hoping to ride this wave when it becomes its own business; the split is unlikely to be completed until around this time next year.
However, all of this is to see the silver linings on some very dark clouds. The clear trend, as it has been for many years, is that the glory days of the PC market are over, and have been for some time.
HP is just another in a growing list of companies realising this and trying to get out before they're dragged down any further. The folks at HP Inc will be hoping to prove their soon-to-be-former colleagues and everyone else wrong. I hope they do.
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