In part, this is what the Apple/Samsung lawsuit is about. If you follow the "Innovator's Dilemma" arguments, the PC makers, and now a lot of the Android makers (tablets and phones) are competing solely on price, because the innovation to get any other advantage has already occurred.
Certainly Apple has invested a lot in product development for iPhone, iPad, iOS, etc. Whether these things should be patentable in the first place, should be separated from whether enforcing the patents, "trade dress", etc results in more or less innovation.
The question for HP in particular, is whether they can innovate on top of (a) Microsoft licensed technologies, (b) Android licensed technologies, or (c) invest time and energies in doing something original. (c) is definitely a gamble, but it's not clear that HP can ever grow out of the bottom by following either (a) or (b).