Before you try to install XP, check the vendor's site for drivers.
You can then install either a virtual machine, install XP as a dual-boot option (read here http://www.howtogeek.com/howto/8790/dual-boot-your-pre-installed-windows-7-computer-with-xp/,
or totally wipe out the laptop and only install XP.
I suggest dual-boot myself.
If you don't have drivers for XP from the vendor, you can install it in a virtual machine to test if things work OK, if not, you need to get another computer compatable with XP.