The old lettered logo, which has been in use with a few minor revisions since the company's founding in 1982, will be replaced with a single stylised 'C' with a tail leading off to imitate a 'Q'.
"With mass audience products it is helpful to have an iconic image rather than lettering," said Satjiv Chadill, senior vice president of marketing at HP.
"Just as the 'swoosh' does wonders for Nike, we think there are big possibilities for the CQ icon. It also looks similar to a thought balloon."
Chadill stressed that the Compaq name is unlikely to be "retired", since it has a very strong following around the world. In some cases Compaq products have market shares of over 40 percent.
"As we say in the company, Compaq is the brand you need, HP is the brand you want, Voodoo is the brand you desire," he said.
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