Bleeding for a long time
HP PC division has been bleeding for a long time. That is why HP merged the PC and the print division, hoping the good revenues and profits from printers would mask the dismal performance of the PC division.
HP is just reaping what it sows. It does not do any design, development or innovation any more. They just take designs off the shelf of the Chinese manufacturers. HP has been living off its reputation for years, but now it is catching up to them.
Be aware, there is no bottom. While HP continues to ignore its fundamental problems it will be a long, sad inevitable decline to Chapter 11.
Too bad; there are some good people there.