HP was too closely tied to the PC and for the life of them could not figure out how to get away from the PC market's crash in time.
They tried, bought Palm OS, tried this, tried that, but in the end they just did the MS jitterbug on the edge of the pool instead of jumping on in and they did it too too long, just like MS is still doing today.
HP had to lay off 50,000 people in the last 2 years and although their presence on the shelves at Best Buy isn't diminished at all, Best Buy itself simply isn't where people go to buy their technology any more.
Lastly, HP has the slow slow reflexes of an old dinosaur company and it is telling .... strongly. Their Chrome Boxes use year before last's chipsets and their new laptop products are coming out with "now discontinued" Intel chipsets inside.
HP is still missing their promised launch dates on all their new stuff too.
http://liliputing.com/2014/05/teclast-p78hd-7-inch-full-hd-tablet-100.html read the article carefully as it isn't about HP, HP is just being used as a comparison point. Nice $111 tablet, though. HP should have picked them to re-label.
Lastly, in addition to being almost a full year late to the party, HP can't even pick the right stuff to re-brand and sell.Because my friends, HP is just a brand name now, re-labeling and selling other people's products here in the USA market at a marked up (non-competitive) price. Part of HP's slow to market is that they are only being offered last year's designs and only after the China demand has been met.
HP is actually being supported by their printer business and HP is busily downsizing to get the corporate bulk down to be in line with the current income level that is actually coming in.