As a former PC hardware leader, HP is one company that not many expected to hear as having some financial hitches. But the ongoing hardware slump of the overall PC market means that things are entering a crunch period for the company.

Senior HP executives dubbed 2013 as a fix and rebuild year.

But so far, the company has had trouble balancing performance with growth. According to TechCrunch, the hardware giant admitted that revenues are dropping. Consumer PC revenues fell a deep 22 percent, but luckily commercial PC sales only took a 3 percent hit.

Nevertheless, this was enough to raise a few eyebrows, and HP CEO Meg Whitman had to assure everybody that things are going according to plan. No clear idea what the plan is, but the company surely would be hoping that Windows 8.1 provides the necessary spark in hardware sales.

Oh, and there is also a small matter of Windows XP retirement date coming around in less than 8 months, which should be enough to move a few extra notebooks and desktops.

Notebooks pretty much define which way the PC industry is heading now days.

And the good news is that HP has a brighter outlook in this regard — the hardware giant looks poised to retake the top notebook vendor position from Lenovo soon. What this also means is that the crown of the overall PC industry may be in the bag too.

Things may seem a bit bleak right now, but for HP management they are still under control.

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