HP Digital Cameras - History and Beyond
HP has started making digital cameras only recently. However, the firm provides a one-stop-shop for all digital facilities. The company has made a large number of innovations over the years. Let us view the interesting history of this company.
Started by two Stanford University graduates, Dave Packard and Bill Hewlett in 1938 in a rented garage with a mere working capital of $538 - Hewlett Packard is a multi-billion dollar company today. With net revenues of $7.2 billion in the year 2004 and over 28,000 employees all across the globe, HP has come a long, long way.
Both Hewlett and Packard being students of electrical engineering, started with the invention of a resistance-capacity audio oscillator. They continued to make similar test and measurement products, and by 1942, had constructed a 10,000 square foot company- owned building in Palo Alto, California. One interesting fact to note is that they decided the name of the company on the basis of just tossing a coin!
In the 50’s, the company continued to grow dynamically, making major advances in microwave instrumentation and in the year 1962, Hewlett Packard appeared in Forbes Top 500 List of Companies for the first time at number 460.
After this, there was no turning back for HP. The company went from strength to strength, constantly innovating new technologies - whether it was in the field of medicine, laser technology, computers, printers, microprocessors etc.
After HP entered the consumer market with its computers and allied products, it also recently decided to introduce its own digital cameras as well. In fact, in order to make its mark in digital cameras, HP has invested nearly $300 million in its consumer advertising for the same. This is the largest investment made by the company in advertising till today. HP believes that digital photography is a booming business and is slowly going to take over the film camera market. The trend to purchase digital cameras is spreading all across Asia and Europe - and HP does not want to be left behind.
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