In August 2011, HP executives announced they were considering . While HP later reconsidered and decided to keep the business, the possibility created a major stir in the industry.

Dell CEO Michael Dell later said the confusion that HP caused in the industry as HP's customers had been left adrift.

"The PC division has to have been hurt by the turmoil [caused by] HP's executives, especially since much of the rancor was over the future of HP's PCs," said King. "I expect that uncertainty impacted the company's PC sales, though things should have calmed down by now."

To get out of its predicament, HP needs to first reassure customers that it is in the business for the long haul, King said. "Second, [they need to] do whatever's necessary to get the PC product development to create new, compelling products," he added. "Third, they need to hope, pray, even sacrifice the occasional virgin for the success of Windows 8."

The problem, though, is that while HP struggles to regain its footing and reputation, Lenovo is firing on all cylinders.