HP acquired the once massive Compaq PC company, and its brand, way back in 2002. Since then, HP has had something of a awkward relationship with having to use the Compaq branding. The company has released PCs with just the Compaq name since 2002, while other PCs, mostly made for business, have had the HP Compaq branding.
Today, The Verge reports that HP has decided to ditch the HP Compaq branding entirely for its line of products. This move will happen sometime in 2013, according to a statement from the company. HP will still use the Compaq name for some products but they will be for "basic computing at entry-level pricing." In other words, the super cheap PCs from HP will now have the Compaq name.
This decision does come at a rather high price. HP said in a filing today with the US Securities and Exchange Commission that it will take a whopping $1.2 billion "impairment charge" sometime later in 2012 as a result of ditching the HP Compaq branding. HP said the charge was due to "accounting rules" due to the change of its branding. By contrast, HP bought Compaq 10 years ago for $24.2 billion.
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