HP Inc (NYSE: HPQ) is a personal systems and printing hardware company that designs, manufactures, and sells PCs, workstations, printers, and related supplies. Revenue comes from two segments: Personal Systems, which sells desktops, notebooks, workstations, thin clients, and retail point-of-sale systems to commercial and consumer customers, and Printing, which sells printers and generates recurring revenue through ink and toner supplies, Instant Ink subscription services, the HP All-In Plan, and Managed Print Services. The company operates across enterprise, public sector, small-and-medium business, and consumer end markets globally. HP faces secular pressure in printing from digitization, competition from generic ink alternatives, and customer migration from disposable cartridge printers to refillable big-tank models, as noted in the FY2025 10-K filed December 10, 2025. Enrique Lores serves as President and CEO. Karen L. Parkhill serves as CFO. HP competes on price, technology, brand, and distribution against OEMs that also carry their own branded products.

Revenue model

Transactional hardware sales from PCs and printers, recurring supplies revenue from ink and toner cartridges, subscription-based services including Instant Ink and the HP All-In Plan, Managed Print Services for enterprises, Device-as-a-Service for commercial PC customers, and lifecycle services including extended warranties and deployment support.

Products and services

Personal Systems: HP Pro and Elite commercial PCs, Z-line workstations, Dragonfly and Chromebook notebooks, thin clients, retail POS systems, displays, hybrid systems, endpoint security software, Device-as-a-Service. Printing: consumer and SMB inkjet and laser printers, Instant Ink subscription, HP All-In Plan, Managed Print Services, industrial digital printing for graphics, labels, packaging and textiles, 3D printing for digital manufacturing. Platforms use Intel, AMD, and NVIDIA processors and run primarily Microsoft Windows and Google Chrome operating systems.

Customers and end markets

Commercial customers including enterprise, public sector (education included), and SMB for Personal Systems. Consumer customers for PCs and printing. Government customers under procurement contracts. Industrial customers for digital printing in commercial publishing, labels, packaging, and textiles.

Value-chain role

Hardware designer and brand owner that sources processors from Intel, AMD, and NVIDIA GPUs, manufactures or contracts manufacturing of devices and printers, and sells through direct and partner channels including OEM relationships. HP both competes with and partners with OEMs that sell under their own brand names.

Geographic exposure

HP is subject to income taxes in the United States and approximately 60 other countries as of the FY2025 10-K filed December 10, 2025, indicating broad multinational operations. Specific regional revenue breakdowns are not provided in the excerpts.

Source: SEC 10-K, filed 2025-12-10

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