HP and Qualcomm, like much of the tech industry, currently find themselves in the doldrums for distinct reasons.

HP, a stalwart in the PC and printer market, has continued to adapt to the shifting tech landscape. With the Covid-driven heyday of increased PC sales over, the decline — or at least stabilizing — of traditional personal computing, increased competition, and a slow industry pivot toward innovative solutions and new usage models have hampered its growth.

Though interesting, the company’s foray into 3D printing and enterprise services has yet to yield significant dividends, leaving shareholders skeptical. On the other hand, Qualcomm, a leader in mobile chipsets, faces its own set of challenges.

The smartphone market has flattened, and its ARM-based silicon solutions in the laptop space haven’t shown dramatic appeal yet to many users. Expressly, the maturation of the smartphone market and increased competition from rivals have limited its growth prospects.

Both companies must navigate rapidly changing technology trends, such as the rise of 5G and the internet of things (IoT), to regain their footing. Innovation, diversification, and effective cost management will be crucial for their resurgence in the tech industry.

Despite these challenges, neither HP nor Qualcomm have taken their foot off the innovation gas pedal. Tempting as that might be from an opex savings standpoint, the last few weeks have showcased important announcements that underscore each company’s collective belief that innovation is the best way to mitigate the general market’s sluggishness and lethargy.

HP’s ‘Live Better, Work Happier and Dream Bigger’ Mantra

The most attention-grabbing announcement made by HP recently wasn’t the introduction of a portable all-in-one computer. The company’s 2024 plan was presented during the HP Imagine 2023 conference, showcasing several exciting new projects and products, some of which are already available for presale.