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Perhaps the HP-42S was to be released as a replacement for the aging HP-41 series as it is designed to be compatible with all programs written for the HP-41. Since it lacked expandability, and lacked any real I/O ability, both key features of the HP-41 series, it was marketed as an HP-15C replacement.
The HP-41C series are programmable, expandable, continuous memory handheld RPN calculators made by Hewlett-Packard from 1979 to 1990. The original model, HP-41C, was the first of its kind to offer alphanumeric display capabilities.