Hewlett-Packard is Doomed if This Happens

Hewlett-Packard HPQ is on the cusp of losing its title as the world's largest manufacturer of PCs. According to Reuters, Lenovo could be the firm that steals that crown. The Beijing, China-based corporation, which acquired IBM's IBM personal computer business in 2005, could become the new world leader as soon as this year. "It's just a matter of time before Lenovo becomes No. 1 and it won't be surprising at all if it happens later this year," Frederick Wong, executive director at Avant Capital Management, told Reuters. Lenovo became the number-two PC player in the third quarter of 2011. Citing research from IDC, Reuters said that during the April-June 2012 quarter, Lenovo held 14.9 percent of the global market share, while Hewlett-Packard held 15.5 percent. Gartner IT, another industry research firm, believes that the gap between Lenovo and Hewlett-Packard is even smaller. The bad news does not end there. Hewlett-Packard hit a 52 week low today, with shares declining to $18.77. The stock is trading at its lowest levels since 2004. Follow me @LouisBedigianBZ