There is one area where HP could take the lead, however. If the cloud revolution goes to plan, pretty soon we're going to need . Even the most cynical will agree that HP's .

We'll need printers that live on the Internet and seamlessly integrate with the likes of Google Docs, for all levels of users. And there's room for innovation in this area. Cloud printing will require more than simply spewing out page after page. Perhaps cloud documents printed while out on the road by could be stored in the printer's memory until the worker returns to the office. We might need printers that feature some kind of pigeon-hole system for workers who print when not in the office.

I'm riffing here, of course, and I'm not a product designer. But there's scope for development, and HP would be foolish not to grasp it. But that'd be a process of expanding its core competencies, rather than jumping off into an entirely new area.

The world could probably do with a few more cloud-enabled computers too, although HP shouldn't be surprised if take-up is gentle rather than rapid. Somebody needs to clear a path. HP could do that.

Just a few years ago it was de rigueur for once-mighty companies to grasp at open source to plug holes in their businesses. Sometimes it worked (Apple did OK, for example, as did IBM), but more often it failed. Now it feels like companies grasp at cloud computing instead. But in many ways the cloud presents far more of a challenge, and requires massive innovation. And there simply isn't any evidence that HP has what it takes.